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- Investment Opportunity with Significant Development Potential.
- Located in Leeds, the main commercial and financial centre in Yorkshire.
- Situated in Cross Gates Road, in close proximity to Cross Gates Shopping Centre.
- Freehold.
- The property comprises 109,579 sq ft (GIA).
- Let to Mecca Bingo Ltd and Treymaine Ltd t/a Chiltern Mills having 4.5 unexpired (2.5 years term certain).
- Total current rent of £320,000 per annum (£2.92 per sq ft overall).
- Significant development / repositioning opportunities, subject to planning.
- Offers are sought in excess of £3,200,000 (Three Million, Two Hundred Thousand Pounds), subject to contract and exclusive of VAT.
- A purchase at this level reflects an attractive Net Initial Yield of 9.40% exclusive of purchaser’s costs of 6.47% and a low Capital Value of £29 per sq ft.
