Commercial Property News

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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."



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