Commercial property
Sold Freehold Industrial Investment - Units 1-4 Whitehall Industrial Estate, Ashfield Way, Leeds

Summary

• Leeds is the fastest growing city in the UK and is the largest commercial and financial centre in Yorkshire (Leeds City Council 2020)
• The property provides 38,800 sq ft of industrial warehouse
• Freehold
• Let to the strong covenant Just Trays Limited on a new 10 year lease with effect from 24 June 2019 with a tenant break option and upwards only rent review at the fifth anniversary of the lease
• Just Trays are the UK’s number 1 shower tray manufacturer
• Located on a well established industrial estate adjacent to the A58
• This reflects a low capital value per sq ft of £51.55
• Total income £160,112 per annum which equates to a low £4.12 per sq ft
• The tenant has been in occupation for over 18 years and has recently taken a coterminous lease on an adjacent property
• Offers in excess of £2,000,000 subject to contract and exclusive of VAT for the freehold interest, reflecting a net initial yield of 7.53%, allowing for standard purchaser’s costs at 6.275%.