2 The Embankment 50,358 SF 83% Leased Office Building Leeds LS1 4DW $14,212,497 ($282.23/SF) 9.25% Cap Rate
INVESTMENT HIGHLIGHTS
- High quality office building in prominent location on Sovereign Street, Leeds
- Multi-let to 5 tenants with only one traditional office floor vacant (24% floorspace) and one fitted suite available (6% floorspace)
- WAULT of 4.00 years to expiry (2.3 years to breaks)
- Newly refurbished Grade A accommodation over 3-4 storeys, extending to 36,564 sq ft NIA on a generous site of 0.66 acres
- Total rental income of £1,046,032 per annum (incl. guarantees and rent top-ups)
- 28 car parking spaces providing an excellent parking ratio for a City Centre office of 1:1278 sq ft
EXECUTIVE SUMMARY
We are instructed to seek offers in the region of £10,593,000, (Ten Million Five Hundred and Ninety Three Thousand Pounds), reflecting a Net Initial Yield of 9.25% and a Capital Value of £289 psf.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
50,358 SF
Building Class
B
Year Built
1988
Price
$14,212,497
Price Per SF
$282.23
Cap Rate
9.25%
NOI
$1,314,656
Percent Leased
83%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
11,118 SF
Slab To Slab
8’
Building FAR
2.89
Lot Size
0.40 AC
Parking
28 Spaces (0.76 Spaces per 1,000 SF Leased)
AMENITIES
- Concierge
- Conferencing Facility
- Courtyard
- Signage
- Reception
- Storage Space
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
High-quality modern office accommodation, with impressive modern entrance, offering contemporary office space.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste Rear | 8,696 SF | Office | - | Now |
2nd Fl-Ste Rear
| Size |
| 8,696 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1 of 1
CONTACTS
-
Graham Foxton -
Richard Brooke -
Knight Frank LLP
