Wednesday, March 12, 2024
Prumip sell Leeds industrial unit for £1.16m
A London-based institution has sold a well located Leeds industrial unit for £1.16 million.
Prumip has sold the 25,517 sq ft industrial building at West End Approach, Morley, to a private purchaser.
The deal represents a capital value of £45 per sq ft and a net initial yield of 7.95 per cent.
Tenants Saint-Gobain Building Distribution Ltd are paying £97,500 per annum for a further 5.5 years.
Rebecca Farnsworth of property consultancy Knight Frank's Leeds office advised Prupim.
She commented: "This transaction proved that deals can be done in this challenging climate, if the product is priced correctly and suited to current requirements. This sale generated strong interest."
Prumip has sold the 25,517 sq ft industrial building at West End Approach, Morley, to a private purchaser.
The deal represents a capital value of £45 per sq ft and a net initial yield of 7.95 per cent.
Tenants Saint-Gobain Building Distribution Ltd are paying £97,500 per annum for a further 5.5 years.
Rebecca Farnsworth of property consultancy Knight Frank's Leeds office advised Prupim.
She commented: "This transaction proved that deals can be done in this challenging climate, if the product is priced correctly and suited to current requirements. This sale generated strong interest."
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