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Pennine House 39-45 Well Street, Bradford, Bd1 5Nu PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD DEVELOPMENT/REFURBISHMENT OPPORTUNITY • The property has recently gained benefit of vacant possession. • Strong change of use potential subject to necessary consents: of interest to retailers, department stores, hoteliers, developers (residential/PRS) and owner occupiers. • Immediately opposite the entrance to the new £260m Westfield Broadway Shopping Centre. • Strategic town-centre location, equidistant between Bradford Forster Square station and Bradford Interchange station. • Excellent communications: only 5.5 miles to M62 (Jct 26) and 15 miles to the M1 (Jct 42) and 30 minutes to Leeds Bradford Airport. Leeds is 20 minutes by train. • Comprising 72,696 sq ft (6,754 sq m) over lower ground, ground and five upper floors with 72 car parking spaces. • Situated on a site of 0.73 acres (0.29 ha); a very low town-centre site coverage of only 56% - with development land in car park to the rear. • Freehold. • The property is located in an Assisted Area and investors may benefit from Business Premises Renovation Allowance (BPRA) subject to a government extension of the scheme. • Offers in excess of £2,200,000 (Two Million Two Hundred Thousand Pounds) exclusive of VAT equating to a capital value of £30 per sq ft are invited for the freehold interest, subject to contract, with the benefit of vacant possession. SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD LOCATION Bradford is the centre of the prominence during the 19th century Metropolitan Borough of the City of as an international centre of textile Bradford in West Yorkshire, 8 miles (13 manufacture, particularly wool. Since km) west of Leeds, 16 miles (26 km) this time, Bradford has emerged as a northwest of Wakefield, 16 miles (26 tourist destination, becoming the first km) south east of Harrogate and 29 UNESCO City of Film with attractions miles (47 km) north east of Manchester. such as the National Media Museum, Leeds Bradford Airport is 6 miles north Bradford City Park, the Alhambra theatre east of the city and a 30 minute drive. and Cartwright Hall. Bradford has a population of 528,155, The economy of Bradford is worth and a student population of 17,000, around £8.3 billion, contributing around making it the fourth-most populous 8.4% of the region’s output, and making metropolitan district and the sixth- the district the third largest after Leeds most populous local authority district in and Sheffield in Yorkshire & Humber. England. The city is part of the Leeds- Bradford Larger Urban Zone (LUZ), Local occupiers include Morrisons, Pace which, with a population of 2.4 million Plc and Hallmark Cards. Three of the is the third largest after London and UK’s biggest financial institutions are Manchester. based in Bradford: Yorkshire Building Society, Bradford & Bingley Building Historically part of the West Riding Society and Provident Financial. of Yorkshire, Bradford rose to BRADFORD IS THE CENTRE OF THE METROPOLITAN BOROUGH OF THE CITY OF BRADFORD IN WEST YORKSHIRE SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD THE NORTHERN THE POTENTIAL TO POWERHOUSE CAPITALISE ON GROWTH AND THE FUTURE The North West was awarded first place (outside London) IN THE REGION IS BEST in Oxford Economics’ regional economic health indicator for the UK regions, beating the South West (2nd) and CONCEPTUALISED the South East and West Midlands (joint 3rd). This was based on a blend of unemployment, house prices, and employment data, demonstrating sizeable falls BY THE NORTHERN in unemployment and rising earnings, indicating that the North West, is becoming a much more favourable POWERHOUSE CONCEPT proposition for investors. Key infrastructure improvements in the area include Manchester City Airport increase from 25m to 50m passengers with other projects including the M56 link road, Stage 2 of HS2 and trans Pennine electrification. The potential to capitalise on growth in the region is best PRESTON conceptualised by the Northern Powerhouse concept. The LEEDS HULL Conservatives’ well-known sentiment is that it is logical LIVERPOOL BRADFORD to assume that delivering greater connectivity – both MANCHESTER physical and conceptual - between northern cities will not only spread the benefits further afield but will also create an significant pull factor, providing global investors with more choice when it comes to directing capital to the UK. The most obvious city-region with the largest potential for reaching critical-economic mass is a trans-Pennine strip, stretching like a crescent across northern England, from LONDON Liverpool to Hull. This includes several well-known cities, many leading universities, two major ports and several international airports. SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD SITUATION The property is prominently located in the heart of Bradford’s commercial district, and stands immediately opposite one of the entrances to the brand-new, fully- let Broadway shopping and leisure complex, built by Westfield for £260m and D R BRADFORD FORSTER SQUARE L A launched in November 2015. N A C D H C A D O E R A A D P EN S O ER I D R K The Broadway Bradford attracted 250,000 visitors in its first four days of trading. R E A S N B 8 H O 5 I T 6 P Key retailers who have opened in the 570,000 sq ft Broadway include Debenhams, A L U L E O P P Y B E Marks & Spencer, Boots, Superdry, Footasylum, schuh, Next, Topshop and River A R A P I A 6 R BRADFORD 5 D P R Island. The Broadway is predicted by iCube to increase catchment spend potential CATHEDRAL E K 0 A C L K G C A E O TE H across Bradford by 78%, whilst boosting footfall across the city by 40% and the K V R N E U A T R O R B C H S S A T developers report it will create 2,500 permanent jobs. R T D S E E AT R G R T K U T IR C E T T K N S BROADWAY S A R E 618 T SHOPPING L 1 U D E & LEISURE E B A IV K COMPLEX P E R G R A A A T A H P E M C SU E NBR IDG E A R L 618 D EED 1 S R OAD LE A64 EDS R 7 OAD BRADFORD BRADFORD COMBINED CITY PARK COURT CENTRE PENNINE HOUSE B MIRROR R POOL ID G E S T BRADFORD MAGISTRATES COURT BRADFORD INTERCHANGE IT IS EXPECTED THAT THE BROADWAY WILL PROPEL BRADFORD FROM 85TH TO 26TH IN THE NEXT CACI RETAIL RANKINGS TO BE PUBLISHED, AND MAKE BRADFORD THE THIRD LARGEST RETAIL DESTINATION IN YORKSHIRE SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD Holiday Inn Express Bradford Interchange Premier Inn Bradford Combined Court Centre L E E D S R O Town Hall A D 0.31 ACRE CARPARK ACRE 0.31 Bradford College Gallery Broadway Shopping Centre University of Bradford Bradford Cathedral Kirkgate Shopping Centre SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSEBradford Forster 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD Square Rail Station DESCRIPTION This attractive Grade II listed sandstone property was built in 1864 and is one of two large blocks of “wool warehouses” between Church Bank and Currer Street. The property is situated within the historic Little Germany conservation area. The property has a net internal area of 72,696 sq ft (6,753 sq m), arranged over lower ground, ground and five upper floors surrounding an internal courtyard which can accommodate parking for 10 cars, with a further demised private car park of 0.31 acres behind the property providing an additional 62 spaces - offering an excellent town centre parking ratio 1:1009 sq ft. The property offers generous winged floorplates of c. 11,000 sq ft, 3 lifts and a goods lift servicing all floors central heating & comfort cooling. The property benefits from office use, except for a small element of retail at ground floor, and dual office and broadcasting use over part ground and basement. THE PROPERTY IS SITUATED WITHIN THE HISTORIC LITTLE GERMANY CONSERVATION AREA LARGE INTERNAL COURTYARD WITH PARKING FOR 10 CARS SUBSTANTIAL TOWN-CENTRE REFURBISHMENT/DEVELOPMENT OPPORTUNITY PENNINE HOUSE 39-45 WELL STREET, BRADFORD, BD1 5NU WITH BENEFIT OF VACANT POSSESSION OPPOSITE WESTFIELD ACCOMMODATION We are advised that the property comprises the following NIA, measured in accordance with the RICS Code of Measuring Practice: h hurc al C eter Cathedr St P Sq ft Sq m The of W Lower Ground 6,380 593 D St Peters Cathedral H 2 6 t House o 2 Ground Floor (including reception) 9,472 880 8 2 103.8m 4 First Floor 11,370 1,056 9 H BANK Second Floor 11,674 1,085 CHURC 7 Third Floor 11,375 1,057 2 T E E 3 R 9 T S R 4 RE Fourth Floor 11,833 1,099 1 R CU 1 4 3 Fifth Floor 4,197 390 £260m BROADWAY 4 4 5 5 Fifth Floor Storage (undeveloped attic) 6,395 594 6 SHOPPING CENTRE 2 Total 72,696 6,754 W E 4 L 7 F L IE C S L Govt Offices ha Opened November 2015 T D rl R es E S Car parking 72 spaces (62 rear car park + 10 internal courtyard) 4 T S t E 5 R re T 1 et E E T 3 3 5 Tenants include: H&M, Debenhams, Next, 3 1 se 3 2 9 0 2 TopShop, M&S, Sainsburys and Boots.
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