Property Information
Address:
Wide Lane Industrial Estate, Leeds, West Yorkshire
, LS27 9BL
, West Yorkshire
, United Kingdom
Price: Buy: POA
Size: 125217 sq ft11633 sqm
Primary Category: Investment
All Categories:
Investment, Industrial,
Property Ref/Movehut: MH679312
Property Ref/Agent: 114532
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: April 26, 2024
Property description
MULTI LET INDUSTRIAL INVESTMENT OPPORTUNITY
Located in Morley, West Yorkshire, 2 miles from J28 of the M62 and 5 miles from Leeds City Centre.
The property comprises a multi-let industrial estate of 8 units, totalling 125,217 sq ft.
Let to 6 tenants with a WAULT of 4.6 years to expiries and 2.9 years to breaks.
Producing a total net income of £789,702 at an average rent of £6.30 psf.
Immediate asset management opportunities, including lease regears, refurbishment of existing units and redevelopment.
Additional income potential via development or letting of 0.5 acres of hard-surfaced yard.
Application submitted for 11,900 sq ft of accommodation in 7 two-storey B2/B8 industrial units (planning application no. 22/03371/FU).
We are instructed to seek offers in excess of £9,500,000 (Nine Million and Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level would reflect a Net Initial Yield of 8.01% on the current income and £275,000 for the additional 0.5 acres of land, assuming standard purchaser's costs of 6.69%
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