Commercial Property News

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Monday, October 16, 2023

Royal London purchase retail warehouse in Leeds for £6.53m

Royal London Asset Management (on behalf of RBS) has bought the Halfords and Burger King on York Road, Leeds from KBC Asset Management for £6.535m representing an initial yield of 4.67%.

The 20,000 ft² property includes an open A1 (non-food) retail warehouse let to Halfords and a Burger King drive-thru restaurant.

The retail warehouse is subject to open market reviews on a low passing rent of £11.74 per ft² whilst the restaurant has guaranteed minimum uplifts equating to 5% per annum compound.

King Sturge acted on behalf of Royal London Asset Management. Edgerley Simpson Howe & Partners represented the vendor.


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