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14 Park Row 3,735 sq ft Retail Unit Offered at £1,700,000 in Leeds LS1 5HU
INVESTMENT HIGHLIGHTS
- Leeds central position in Britain coupled with its international airport and road/mainline rail links, offers excellent transport connectivity.
- Leeds is the third busiest railway station in the UK outside of London and one of the busiest in the Northern Powerhouse.
- Nearby occupiers include Indian Tiffin Room, JD Wetherspoon, Gaucho, Gusto and The Alchemist Bar.
- Some of the country’s highest-capacity strategic motorways and roads converge in Leeds City Region including the M62, M1 and A1(M).
- Leeds Bradford Airport is located seven miles northwest of Leeds City Centre and is the largest in Yorkshire.
EXECUTIVE SUMMARY
The property comprises a building of brick construction arranged over seven floors including basement and has residential 1st floor upwards. The property is located on Park Row, just off the Headrow and at a walking distance from Leeds Station.
PROPERTY FACTS
| Total Property Size | 38,364 sq ft | Floors | 9 |
| Property Type | Build-to-Rent (Unit) | Typical Floor Size | 1,867 sq ft |
| Property Subtype | Apartment | Year Built | 1962 |
| Costar Property Class | B | Total Plot Size | 0.17 ac |
| Total Property Size | 38,364 sq ft |
| Property Type | Build-to-Rent (Unit) |
| Property Subtype | Apartment |
| Costar Property Class | B |
| Floors | 9 |
| Typical Floor Size | 1,867 sq ft |
| Year Built | 1962 |
| Total Plot Size | 0.17 ac |
1 UNIT AVAILABLE
Unit 14
| Unit Size | 3,735 sq ft | Sale Type | Investment |
| Price | £1,700,000 | Tenure | Freehold |
| Price Per sq ft | £455.15 | Net Initial Yield | 6.65% |
| Unit Use | Retail | NOI | £113,050 |
| Unit Size | 3,735 sq ft |
| Price | £1,700,000 |
| Price Per sq ft | £455.15 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 6.65% |
| NOI | £113,050 |
DESCRIPTION
The property comprises a substantial ground floor bar/restaurant with ancillary accommodation at basement level. There is also dedicated access at the rear of the unit.
SALE NOTES
The asset is let on a FR&I lease to Stonegate Pub Company Limited expiring on 24 December 2038 (15 years unexpired)
at a current rent of £121,100 per annum. The lease is subject to open market rent reviews, the next rent review is due 24 December 2023.
Presented by
14 Park Row
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