investment opportunity

high yielding industrial investment with well secured medium term income
& development potential


modern single storey warehouse unit of approximately 46,000 sq ft on a site area of approximately 1.75acres


freehold for sale
1 armley way - leeds - LS13 4UD

Location: The property occupies a site with frontages to Armley Way, Stanningley Road and Back Lane, Bramley a suburb 2-3 miles to the south west of Leeds.
Leeds is the administrative center of Yorkshire and it's largest city with a vibrant city center and excellent transport connections to the entire country.
The property is situated close to a residential area.
   
Description: The property comprises a modern single storey warehouse unit with good eaves height amounting to approximately 46,000 sq ft including 3,700 sq ft of well appointed offices. The site area is approximately 1.75 acres.
   
Tenancy:

The entire property is currently let on a wind and watertight repair basis with restricted decorating liabilities for a term expiring in December 2013 with a review and mutual option to terminate in December 2010. The current passing rent is £160,000 pax. The property is let to Elite Forwarders Ltd who are in occupation.

Elite Forwarders are freight forwarders specializing in the textile industry who include in their client list the majority of the high street fashion retailers.

In 2002 their turnover figure was £29,831,626 with a gross profit of
£7,323, 952 and a net profit of £647,410. In 2003 the turnover increased to £35,855,097 with a gross profit of £11,253,118 and net profit of £2,446,821.

 
Proposal : We are instructed to seek offers for the freehold interest in the region of
£1.75 Million, subject to contract, indicating a yield of around 9% gross.
Development: The immediate surrounding area to the property is residential. Therefore a redevelopment of the site to a similar use may be possible subject to planning consent.
   
Viewing: By arrangement through sole agent: Pater Goodman Merriman

These details are issued on the strict understanding that they do not form part of any contract, that no warranty is given or implied as to the accuracy of any information given herein or otherwise in the property or any services none of which have been tested. Any intending party must rely on their own inspection and enquiries. All negotiations must be conducted through Pater Goodman Merriman

 

grant house, 56/60 st john street, london EC1M 4HG, t 020 7253 2525, f 020 7253 1515

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