Armley Retail Park, Armley Road, Leeds
Description
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.
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
