The property comprises a two unit industrial/hybrid scheme with the following high level specification.
- Highly prominent site fronting Gelderd Road
- Well maintained fully fenced site with secure entry intercom entry system
- Open span warehouse areas with minimum eaves heights ranging from 4.60 metres to 7.01 metres
- Large shared parking areas with 70 spaces
- Large concrete loading yard with depths of to 48 metres
- Unit 1 has three ground level loading doors whereas Unit 4 has two
- Both units benefit from high quality office accommodation
( Agency Pilot Software Ref: 677 )
Location
Leeds is part of the UK’s largest city region outside London with a £55 billion economy generating 5% of the UK’s economic output. The area is home to a population of 770,000 people and 2.2 million people within a 30 minute drive-time and the working age population is set to increase by 26% in 2031 which will support the high levels of growth expected. In addition, Leeds is the second densest city in the UK behind only Cambridge and London for the number of fastest growing firms.
Leeds is strategically located approximately 195 miles (312 km) north of London, 44 miles (71 km) north-east of Manchester and 33 miles (53 km) north of Sheffield. In addition to the strong growth characteristics of Leeds, the City is already an established logistics market due to the excellent connectivity to the National Motorway Network enabling 87% of the UK population to be accessed within a 4.5 hour drive time. This coupled with the proximity to major rail, port and airport infrastructure has resulted in a number of major occupiers choosing Leeds as the central distribution hub for their national supply chain networks
Accommodation
Unit 1 and Unit 4
Warehouse 1,134.06 sq m (12,207sq ft )
Office 1,027.18 sq m (11,056sq ft )
Total 2,161.24 sq m (23,263 sq ft )
Unit 4
Warehouse 867.66sq m ( 9,339 sq ft )
Office 474.07 sq m (5,103sq ft )
Total 1,341.74sq m ( 14,442 sqft )
Terms
EPC Available on request.
VAT We understand the property has been elected for VAT and therefore anticipate the sale will be undertaken as a transfer of a going concern (TOGC).
ANTI MONEY LAUNDERING The purchaser will need to satisfy both the vendor and Agent’s Anti Money Laundering polices.
PROPOSAL We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 6.56%, assuming purchaser’s costs 6.45%. Adopting our opinion of ERV and allowing for 3% annual RPI growth, the reversionary yield would be 7.89%