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Studios House Whitehall Rd 25,486 sq ft 100% Let Office Property Leeds LS12 1AP £5,000,000 (£196.19/sq ft) 5.18% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Strategically located in Leeds City Centre
- Excellent connectivity
- Easy access to a vast amount of local amenity
EXECUTIVE SUMMARY
Instructed to seek offers in excess of £5,000,000 (Five Million Pounds) for the Freehold interest, subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 5.18% based on the December 2024 rent review, allowing for purchaser’s costs of 6.59%, and a low capital value of £197 per sq. ft. The property is let in its entirety to Leeds City Council for a term of 25 years from 20 December 2019 until 10 December 2044 with a tenant break option on 17 December 2039 subject to not less than 2 years prior written notice. There is an unexpired term of approximately 15 years to break and 20 years to expiry.
The property is held Freehold under title numbers WYK776865 and WYK651284.
A purchase at this level reflects a net initial yield of 5.18% based on the December 2024 rent review, allowing for purchaser’s costs of 6.59%, and a low capital value of £197 per sq. ft. The property is let in its entirety to Leeds City Council for a term of 25 years from 20 December 2019 until 10 December 2044 with a tenant break option on 17 December 2039 subject to not less than 2 years prior written notice. There is an unexpired term of approximately 15 years to break and 20 years to expiry.
The property is held Freehold under title numbers WYK776865 and WYK651284.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
25,486 sq ft
Costar Property Class
B
Year Built
1995
Price
£5,000,000
Price per sq ft
£196.19
Yield
5.18%
NOI
£259,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
6,288 sq ft
Floor To Floor Height
9 ft
Plot ratio
1.61
Total Plot Size
0.36 ac
Parking
46 Spaces (1.8 Spaces per 1,000 sq ft Leased)
AMENITIES
- EPC - D
- Storage Space
- DDA Compliant
- Fully Carpeted
- Shower Facilities
- Wi-Fi
- Air Conditioning
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Studios House | Whitehall Rd
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