91 Queen Street, Morley, Leeds, West Yorkshire, LS27 8EF
Freehold Retail Investment Opportunity
- An attractive freehold investment opportunity
- Unit underwent full refurbishment in September 2018
- Let to Santander Plc, expiring 29/09/2023
- Passing rent - £33,500 per annum
- Offers in excess of £300,000 (net initial yield 10.8%) after purchasers costs
LocationThe property is prominently located lying to the eastern side of the pedestrianised Queen Street, a busy shopping area with a good mix of national and local retailers and within close proximity to Morley Indoor Market and a Morrisons food store. Morley is a popular and bustling market town located approximately 5 miles south west of Leeds city centre. Morley is a sought after commuter town with convenient train links to Leeds city centre as well as good access to the motorway network via the M62 and M1 motorways, a short distance from the property.
The property comprises an attractive two storey mid terraced building with banking accommodation on the ground floor and office space on the first floor. There is considered to be future conversion opportunities for the uppers to residential uses subject to obtaining any necessary planning permission. The property has been used for its existing use for over 30 years.
Trading area - 1,179 sq ft
Ancillary - 68 sq ft
Office space - 1,223 sq ft
Unit underwent full refurbishment in September 2018 including the installation of a new air conditioning unit.
PriceOffers in the region of £300,000 are sought for the Freehold interest. A purchase at this level would equate to a net initial yield of 10.8% (after purchasers costs of 3.3%), based on the passing rent of £33,500 pa.
VATWe understand that VAT is not chargeable on this transaction.
EPCAvailable upon request.
Legal CostsEach party is to be responsible for their own legal costs incurred in this transaction.
Anti Money LaunderingIn accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
2 & 4 Parade, Leamington Spa, Warwickshire, CV32 4DW
Investment, Retail For Sale
Offers in the region of £650,000