Wide Lane Industrial Estate, Morley, Leeds, West Yorkshire, LS27 9BL

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Wide Lane Industrial Estate, Morley, Leeds, West Yorkshire, LS27 9BL

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Agent's Details

David Winterbottom

T: 07836 225552

Bethany Newman

T: 0161 956 4223

Jake Pygall

T: 07795 237286

For Sale £9,500,000 Offers in excess of

MULTI LET INDUSTRIAL INVESTMENT OPPORTUNITY

Located in Morley, West Yorkshire, 2 miles from J28 of the M62 and 5 miles from Leeds City Centre.

The property comprises a multi-let industrial estate of 8 units, totalling 125,217 sq ft.

Let to 6 tenants with a WAULT of 4.6 years to expiries and 2.9 years to breaks.

Producing a total net income of £789,702 at an average rent of £6.30 psf.

Immediate asset management opportunities, including lease regears, refurbishment of existing units and redevelopment.

Additional income potential via development or letting of 0.5 acres of hard-surfaced yard.

Application submitted for 11,900 sq ft of accommodation in 7 two-storey B2/B8 industrial units (planning application no. 22/03371/FU).

We are instructed to seek offers in excess of £9,500,000 (Nine Million and Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level would reflect a Net Initial Yield of 8.01% on the current income and £275,000 for the additional 0.5 acres of land, assuming standard purchaser's costs of 6.69%