Studios House Whitehall Rd 25,486 SF 100% Leased Office Building Leeds LS12 1AP $6,633,235 ($260.27/SF) 5.18% Cap Rate
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
Building Size
25,486 SF
Building Class
B
Year Built
1995
Price
$6,633,235
Price Per SF
$260.27
Cap Rate
5.18%
NOI
$343,602
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
6,288 SF
Slab To Slab
9’
Building FAR
1.61
Lot Size
0.36 AC
Parking
46 Spaces (1.8 Spaces per 1,000 SF Leased)
AMENITIES
- Energy Performance Rating - D
- Storage Space
- DDA Compliant
- Fully Carpeted
- Shower Facilities
- Wi-Fi
- Air Conditioning
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