Central House 47 St Pauls St 10,006 SF 76% Leased Office Building Leeds LS1 2TE $3,757,963 ($375.57/SF) 6.43% Cap Rate

Prime city centre office investment opportunity located on St Paul’s Street in the heart of Leeds’ vibrant central business district.
Offers are invited in excess of £2,855,000 (Two Million, Eight Hundred and Fifty-Five Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 9.00% and a low capital value of £285 per sq ft, after standard purchaser's costs of 6.43%, and reversion to 10.00%+ adopting our projected ERV.
TENANCY
Central House is let to four tenants with one vacant suite over which the vendor will provide a 12 month rent, rates and service
charge guarantee. The full tenancy schedule is summarised below; lease documentation is available in the project data site:
Central House comprises a five-storey corner office building of steel frame construction. The façade is finished with 'Leeds look' brickwork elevations and aluminium double glazed fenestration.
The base build was completed in 1988 and the building was fully repositioned to a high standard in 2015, including full electrification of the core M&E, back to frame suite refurbishment and construction of multiple roof terraces and balconies to the uppermost two levels.
Office suites feature exposed ducting, air conditioning, raised access floors, LED lighting and video intercom link to the reception with a passenger lift servicing ground to third floor. Basement parking is provided, accessed from a secure rear yard, alongside bicycle storage and shower facilities.