13-14 Park Pl 5,858 sq ft 100% Let Office Property Leeds LS1 2SJ £1,013,000 (£172.93/sq ft) 10% Net Initial Yield

Prime, city centre office investment opportunity located on Park Place in the core of Leeds’ legal and professional services pitch.
Offers are invited in excess of £1,013,000 (One Million and Thirteen Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 10.00% and a capital value of £173 per sq ft, after standard purchaser's costs of 5.76%.
TENANCY
Park Place is fully let across eight unique occupiers, providing well-diversified income with no over-reliance on any single tenant.
Leases are made on short-dated terms and thereby do not provide review or break options:
Park Place comprises a Grade II Listed late-Georgian end-terrace office building of traditional construction.
The façade is finished in render with stonework detailing, supported by a cast iron structural frame and original Crittall sash windows.
The roof is of oak truss construction with slate covering. Internally, the property was the subject of a comprehensive refurbishment in the mid-2010s, which retained and restored key period features (including timber panelling, oak trusses and decorative plasterwork) whilst introducing LED lighting and electric radiators throughout.
The top floor suite features exposed oak trusses, original detailing and natural light from front and rear elevations. The property benefits from four external car parking spaces within a secure yard to the rear.