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58-66 Vicar Ln 19,757 SF Retail Building Leeds LS1 6PJ $5,338,743 ($270.22/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Leeds City Centre location
- Planning consent for 16 high-spec residential units
- Fully let retail investment
EXECUTIVE SUMMARY
A prominent freehold Grade II listed mixed-use investment in Leeds City Centre, extending to 19,757 sq ft. The property is fully let at ground and basement levels to Caffè Nero, Subway, Futon Company, and Rand Coffee Roastery, producing a total annual income of £212,000. Lease terms range from 5 to 10 years, with strong tenant covenants in place. Planning permission has been granted for the conversion of the upper floors into 16 residential flats (8 one-bedroom and 8 two-bedroom), with a projected rental income of £30,200 per month and a gross development value of approximately £5.27 million.
The building occupies a high-profile corner site next to Victoria Quarter and is situated 100 metres from Briggate, Leeds’ prime retail pitch. Offers are invited in excess of £4,000,000, reflecting an attractive yield and low capital value.
The unit at 5 & 7 Harewood Street is under offer and will be let to Rand Coffee Roastery on a 10-year lease, subject to planning; landlord works are currently underway with completion expected mid-November.
The building occupies a high-profile corner site next to Victoria Quarter and is situated 100 metres from Briggate, Leeds’ prime retail pitch. Offers are invited in excess of £4,000,000, reflecting an attractive yield and low capital value.
The unit at 5 & 7 Harewood Street is under offer and will be let to Rand Coffee Roastery on a 10-year lease, subject to planning; landlord works are currently underway with completion expected mid-November.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
19,757 SF
Building Class
C
Year Built
1910
Price
$5,338,743
Price Per SF
$270.22
Cap Rate
8%
NOI
$427,099
Tenancy
Single
Building Height
5 Stories
Building FAR
3.49
Lot Size
0.13 AC
AMENITIES
- Security System
- Storage Space
- Air Conditioning
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NEARBY MAJOR RETAILERS
CONTACTS
-
Tom Heptonstall -
Patrick Kilvington -
Oliver Smart -
FMX Urban Property Advisors
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58-66 Vicar Ln
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