The Business Centre is constructed on a site extending to approximately 4.42 acres, and comprises a mix of industrial and office accommodation.
The principle accommodation is single storey industrial space, and in general is of steel portal frame construction with brick and block cladding surmounted with cement asbestos cladding. The roofs are pitched with metal frames, partly metal clad and partly cement asbestos.
The accommodation comprises two substantial warehouse buildings with a linking unit constructed between the two, and there is also a smaller standalone industrial unit. The larger unit has been sub-divided into five industrial units, with a covered loading canopy to the rear which serves three of the premises.
The site has an excellent yard and parking facilities, and some of the yard space has been formed into secure compounds and is let with the industrial accommodation.
The office accommodation is of three storey construction attached to the front of the larger warehouse building, and has its own central access doors. The office accommodation has been partitioned to create a series of open plan and private offices, which in the main are of a good standard with suspended ceilings, modern decoration and carpet/carpet tiles. Heating is generally via electric radiators with many of the offices also having comfort cooling units installed.
Outside, to the front of the Business Centre there is parking for the office accommodation.
To the right hand side of the Business Centre there are a number of storage containers, one of which is income producing and the others have the potential to be let and provide additional income.
The site is fully bounded by security fencing and gate.
Location
Leeds is the principle City within West Yorkshire and the Yorkshire and Humberside region. Forming the focus of a number of motorways and major trunk roads, the City is situated approximately 200 miles north of London on the M621/M1, approximately 11 miles east of Bradford and 24 miles south west of York.
Established and comprehensive road rail and international air links provide fast and easy access to Leeds City Centre for the business community and for leisure visitors alike. The City is essentially located at the intersection of the UK’s most important motorways and has direct links with London and Edinburgh via the M1 and A1 (M) roads, and the M62 motorway runs along the east west route making the journey to Manchester or Hull achievable in 1 hour.
SITUATION - The property is situated on Grangefield Industrial Estate, which lies approximately 4 miles to the west of Leeds City Centre and 5 miles to the east of Bradford. It is also well located for access to the local motorway network with junction 1 of the M621 being approximately 3.5 miles to the south east and directly accessible via the Leeds outer ring road.
Grangefield Industrial Estate itself is easily accessible from the Stanningley Bypass section (A647) of the Leeds outer ring road and the subject premises are located on Richardshaw Road accessed via Richardshaw Lane.
Accommodation
Comprising a mix of industrial and office accommodation on a site of 4.42 acres approx.
There are 8 industrial units extending to 86,671 sq ft
Frontage offices on 3 levels comprising 11,202 sq ft
The attached schedules outline the accommodation in more detail as well as providing tenancy information – the schedules are correct at the time of publication, although given the short term nature of the office lettings may be subject to variation.
Terms
TENURE - Long leasehold. The property is held on two leases being for 99 years from 27 June 1965 and 99 years from 26 July 1965, and with a total fixed annual rent of £2,423.
PRICE - We are instructed to seek offers in excess of £1,550,000 subject to contract. A purchase at this level would show the buyer a net initial return of 14 % (after allowing for purchasers costs of 6.07 %).
This yield calculation takes into account landlords non recoverable expenditures which are currently in the region of £10,000 per annum.
VAT - The property is elected for VAT purposes.
ENERGY PERFORMANCE CERTIFICATES - Energy performance certificates are available on request from the Selling Agent. All the accommodation is rated within Band E or better.
Specification
- Highly accessible industrial/business location
- Comprising a mix of industrial and office accommodation on a site of 4.42 acres approx
- 8 industrial units extending to 86,671 sq ft
- Frontage offices on 3 levels comprising 11,202 Sq ft
- Current rent role £241,091 pax
- Various asset management angles including letting vacant space, forthcoming reviews, regearing head lease in due course etc
- Long leasehold tenure