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- Located in Leeds, the main commercial and financial centre in Yorkshire
- Situated on Cross Gates road, in close proximity to Cross Gates shopping Centre
- Comprising 109,454 sq ft bingo hall
- Freehold
- The property is let to Mecca Bingo limited until september 2021 (approximately 6 years unexpired)
- Current rent of £362,273 pa. (£3.31 per sqft)
- Rent to increase in line with rPI capped at 3% per annum with the next review in September 2016
- Seeking offers in excess of £4.565M subject to contract and exclusive of Vat reflecting a low capital value per sq ft of £41.70
- Net initial yield of 7.5% after allowance for purchasers costs of 5.8%
- Potential reversionary yield of 8.1% assuming a maximum 3% pa compounded uplift at September 2016 review
