13 Chapel Lane, Bingley, BD16 2NG

The property comprises a high yielding, multi-let, mixed-use investment with evident asset management potential. Arranged as a ground floor retail unit with separately accessed residential upper parts, the property is let to two separate tenants producing a total £10,808 per annum. The ground floor is let to Peter Healey Limited on a 10 year lease paying £6,400 per annum which expired in 2011. The tenant is therefore holding over and we consider the property offers evident asset management potential via renewal of this lease. The tenant also separately lets the car parking space paying £408 per annum. The total rent payable by the tenant is therefore £6,808 per annum. The upper parts comprise separately accessed residential accommodation and are let on a three year Assured Shorthold Tenancy (AST) agreement paying £4,000 per annum. The AST expired 31.03.2023 and the tenant is therefore holding over, offering further asset management potential via renewal. The property occupies a prominent corner pitch with a frontage to Chapel Street, close to the junction of Main Street. The street is the main thoroughfare from several town centre car parks with an approx. 135 spaces as well as Bingley Station which is immediately to the rear of the property. The 5 Rise Shopping Centre is opposite and nearby tenants include Home Bargains, Co-Op, Boots and Subway.