Well-located freehold industrial and commercial estate situated approximately one mile west of Leeds city centre, within the established mixed-use area of Armley.
Substantial multi-let property of traditional mill and industrial buildings providing a total site area of approximately 1.11 acres.
Fifteen tenants currently in occupation, producing a current rent of £176,370 per annum, reflecting a low average rent of £4.41 per sq ft.
Estimated Rental Value of £255,620 per annum, offering significant reversionary potential and future income growth.
Demonstrated consistently high occupancy and strong re-letting performance, underpinned by affordable rents and the estate’s accessible location.
Freehold.
The transaction is to be treated as a Transfer of a Going Concern (TOGC).
Offers invited in excess of £1,660,000, subject to contract and exclusive of VAT, reflecting an attractive initial yield of 10.00% and a reversionary yield of 14.5%, assuming standard purchaser’s costs of 6.21%.
