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Cross Gates Road, Leeds LS15

High Yielding Investment Opportunity with Redevelopment Potential
For sale
  • 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.
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