Upper Parts, Vassalli House, Central Road, Leeds, West Yorkshire LS1 6DE

Leeds City centre residential superior long leasehold head lease interest, with substantial reversionary value, providing a total annual income of £3,600 by way of 24 individual 150 year sub leases with RPI rent reviews on each 25th year anniversary the next review being due in 2026.

The superior lease being sold relates to the upper residential parts of a wider Grade II listed property also comprising basement and ground floor retail units.

The property is located in Leeds city centres pedestrianised shopping area on the east side of Central Road, close to its junction with Kirkgate and parallel to Bridgegate. The property faces Market Street Arcade and is close to the Trinity Shopping Centre, Corn Exchange and Victoria Quarter.

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The Superior leasehold agreement is for a period of 150 years from 1 January 2001 expiring on 31st December 2151 with a demise of the entrance ways lifts staircases first second and third floors.

The 24 individual subleases each detail a term of 150 years, less 3 days, from 1st January 2001, at an annual income of £150 providing an annual total of £3,600. The leases detail that on each 25th year anniversary the rent will be increased by such percentage (if any) as the last figure of the Index Retail Prices shall have increased over the figure of the index 25 years earlier.

Whilst the RPI index cannot be predicted for 2026 rent review if the review was based on the June 2022 RPI figure of 340.0 together with the January 2001 RPI published figure of 171.1 then the passing rent would increase to £298.07 per apartment or £7,153.71 per annum for the combined leases. Clearly no prediction of future RPI index's can be given and the above is purely provided as an example based on the current RPI Index.

Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.

1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 16TH AUGUST AND CLOSES ON WEDNESDAY 17TH AUGUST.