Carlton Mills comprises a substantial and versatile complex of traditional mill and industrial buildings.
The property offers flexibility for occupation, investment, or redevelopment (subject to planning).
The site is arranged over several interconnected buildings of brick and stone construction beneath a combination of pitched and flat roofs. Internally, the accommodation provides open plan warehouse areas, workshops, and ancillary offices, with natural light typical of traditional mill architecture.
Externally, the property benefits from good on-site circulation and yard space, together with dedicated parking and loading facilities accessed directly from Pickering Street. The estate layout allows convenient vehicular access for deliveries and trade operations.
The broader area is home to a diverse mix of occupiers, highlighting its proven track record as a successful commercial location. Units on site are occupied by a range of independent and established businesses across light manufacturing, engineering, fitness, and service sectors.
The estate is fully secure with gated access, security fencing and CCTV is in operation.
Location
Carlton Mills occupies a prominent position on Pickering Street in Armley, approximately one mile west of Leeds city centre.
The property benefits from excellent transport connections, with Armley Road (A647) providing direct access to Leeds and Bradford city centres. The nearby M621 motorway links efficiently to the M1 and M62 national routes.
The estate is home to a variety of occupiers including engineering firms, trade workshops, and fitness studios.
The wider surrounding area supports a thriving business community, with national and local retailers such as Lidl, B&M, and Farmfoods located nearby on Armley Road. Regular bus services operate along the main arterial routes, ensuring good connectivity for staff and visitors.
The property offers a strategically positioned commercial location, combining proximity to central Leeds with convenient access to regional road networks and a robust surrounding business environment.
Accommodation
Unit 1 - 4,660 sq ft
Unit 2 - 2,532 sq ft
Unit 3 - 2,435 sq ft
Unit 4 - 1,250 sq ft
Unit 5/6 - 4,378 sq ft
Unit 8/8a - 2,750 sq ft
Unit 9/9a - 8,000 sq ft
Unit 9b - 4,000 sq ft
Unit 10 - 4,000 sq ft
Unit 11 - 6,000 sq ft
Unit 12 - 2,250 sq ft
Unit 13 - 2,100 sq ft
Unit 14 - 2,250 sq ft
Unit 15 - 6,750 sq ft
Offiice 1 - 4,320 sq ft
Office 2/3/5 - 4,320 sq ft
Office 4 - 4,320 sq ft
Office 6 - 4,320 sq ft
Office 7 - 4,320 sq ft
Office 8 - 4,320 sq ft
Total - 57,675 sq ft
Terms
TENURE - Freehold. A copy of the title is available upon request.
TENANCY - See attached brochure for information
EPC - Copies of EPCs can be made available on request.
VAT - The property is elected for VAT and it is envisaged that the transaction will be treated a TOGC.
ANTI-MONEY LAUNDERING REGULATIONS - In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
PRICING - Offers are invited in excess of £1,660,000 (One Million, Six Hundred and Sixty Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects an initial yield of 10.00% and a headline reversionary yield of 14.50%, assuming purchaser’s costs of 6.21%.
Attractive overall capital value of £28.80 psf.
Specification
- 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%.
- Low capital value of £28.80 per sq ft.