Description

UNDER OFFER

Prominent Secure Income Retail Park Investment Opportunity

Leeds is the UK’s 5th largest city by primary retail market area and consumer base.

Located in Armley, a short distance from Leeds City Centre, with an extensive catchment area.

Situated fronting the A647 Armley Road, in a built up commercial and residential location, in close proximity to a 618-unit build-to-rent apartment scheme currently under construction, due to PC in 2027.

The property comprises two modern retail warehouse units totalling 32,315 sq ft (GIA) with
a large 190-space car park.

Let to the secure covenants of B&M and Farmfoods, with open market rent reviews.

Attractive WAULT of 8.5 years to expiry with an overall net rent passing of £351,520 per annum, reflecting a low £11.26 per sq ft.

The site is held part Freehold and part Long Leasehold.

We are instructed to seek offers in excess of £4,700,000, exclusive of VAT. A purchase at
this level reflects a net initial yield of 7.00% (assuming 6.58% purchaser`s costs) and a low
capital value of £146 per sq ft.

BUILDING HIGHLIGHTS

Two modern retail warehouse units

Attractive WAULT of 8.5 years
The site is held part Freehold and part Long Leasehold

Large 190-space car park

Location

The property is located in Armley, a suburb of Leeds located approximately 2.25km (1.4 miles) to the west of Leeds City Centre.

Downloads

Armley Road Leeds.pdf

Specification

The units are of steel frame construction.

Benefits from a communal 190-space car park.

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