Freehold builders merchant investment
Located within prime trade counter pitch in Leeds
Adjacent to other trade users such as Toolstation, Selco, Booker, Tile Depot, HSS, Edmundson and Screw-fix
Excellent access to motorway network through M621 / M1 / M62 - less than 10 minute drive to Leeds City Centre
Extending to 23,669 sq ft, set on site of 2.13 acres, reflecting a very low site coverage of 26%
Lease re-geared to Saint Gobain Building Distribution Limited (5A2 covenant) expiring 26 August 2029, thereby providing 9.75 years unexpired income
Tenant has recently undertaken refurbishment works showing commitment to the site
The property has been a builders merchant for over 50 years
Low passing rent of only £146,149 per annum (£6.17 psf)
Next reviewed to OMRV in August 2024, providing excellent scope for growth
Strong residual redevelopment value (Food, Roadside, Car Showroom STP)
Offers in excess of £2,200,000 (Subject to Contract)
6.25% Net Initial Yield
7.05% Reversionary Yield
Low capital value of just £90 psf or £1.03m per acre
