Industrial

Units C-E Latchmore Park, Latchmore Road, Leeds LS12 6DN

 

Price: £5,700,000 - Initial Yield:6.10%

Date: Q3 2018

Acting on behalf of Eskmuir Properties we advised on the sale of this reversionary multi-let industrial investment to Legal & General for £5.70m, reflecting a net initial yield of 6.10%. 

The property comprises three detached industrial units with ancillary office accommodation totalling 76,146 sq ft (7,074.19 sq m). Multi let to three tenants including Intime (Leeds) Ltd, Rexel UK Ltd and JCDecaux UK Ltd generating a rental income of £371,116.25 p.a (low average passing rent of £4.87 per sq ft). Estimated rental value of £415,000 p.a indicating strong reversionary potential. The property benefits from an AWULT of 7.10 years to expiry (2.78 years to break) with a strong income profile with 73% of the income secured against ‘minimum risk’ covenants.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Fred Daeche-Marshall

Tel: 020 7493 3330
Mob: 07785741700
FDMarshall@lewisellis.co.uk


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