Light Industrial for saleUnits 1 & 2 Westland Square, Leeds, West Yorkshire, LS11
Under Offer 11,450 sq. ft. | £734,000
- 11,450 sq ft (1,063 sq m)
- Use class orders: B2 General Industrial
- Clinical waste transfer investment.
- D&B Rating N1 covenant.
- Let to Personnel Hygiene Services Limited for a term of 20 years with effect from 16 April 2010 at a rental of £50,656.08 per annum and subject to rent review at the greater of OMV or RPI.
- Established industrial estate.
Leeds is the principal centre for Yorkshire and the UK's fastest growing city with the second largest employment total outside London.
Whilst over the last two decades the economy has transformed to reduce its reliance on heavy industry, Leeds still retains a significant manufacturing presence and benefits from a diverse occupational base. Leeds is well located at the hub of the northern motorway network. It is located approximately 56 km (35 miles) north of Sheffield, 71 km (44 miles) north east of Manchester and 312 km (194) miles north of London.
Leeds sits immediately to the north of the intersection of the M1 (J42) and M62 (J27 and 29) motorways, being linked via the M621.
Virgin East Coast mainline offers connections to London Kings Cross in approximately 2 hours 20 minutes and Leeds Bradford International Airport is located within a 30 minute drive.
The property is situated within the Westland Square Industrial Estate, which is situated approximately 3 miles south of Leeds city centre comprising a mixture of predominantly modern industrial/warehouse units ranging in age from between the 1960s/70s to 2000.
Nearby occupiers include Toolsharp Engineering Limited, Proventus UK Limited, Auto Windscreens, GMI Construction Group plc, Harrison Spinks, Audio Technica and Leeds City Council, to name but a few.
The property comprises a warehouse with two storey offices to the front.
The warehouse accommodation consists of two elements, part built in the 1970s and the other constructed during the 1990s along with the offices following the demotion of an older industrial unit.
There is a small concrete surfaced loading and staff parking area with perimeter palisade fencing and gated access onto which the warehouse has three full height steel roller shutter doors. To the side of the fenced area is a further loading door.
The warehouse is of a steel portal frame construction pitched in two bays, one of which incorporates brick elevations and one steel roller shutter door, whilst the other is of a more modern later construction, incorporating full height colour coated profile steel cladding and three steel roller shutter doors to the front and one to the rear.
Both benefit from colour coated profile steel cladding to the roof with scattered roof lights, overhead sodium lighting and sectional concrete floors.
The other of the two units benefits from a wall mounted Benson warm air blower and incorporates the washroom machinery.
To the rear is located a blockwork stockroom with small mezzanine for storage and access provided to two storey offices at the front. A small opening in the dividing walls leads through to a second more modern building which is used for warehousing.
The two storey offices to the front are configured to provide a main office area, kitchen, male and female WCs at ground floor, whilst at first floor level there are two offices and a meeting room.
The accommodation is finished to a good specification incorporating plastered and painted walls, gas central heating, suspended acoustic tile ceilings with recessed low voltage spot lights, fluorescent lighting panels, and powder coated UPVC double glazed window units.
We have valued the property on the basis of the floor area figures set out below, which we have measured on site and are the gross internal floor areas measured in accordance with the RICS Code of Measuring Practice, published in August 2007 (6th Edition) as updated.
The property is freehold.
We have been advised that the Rateable Value for the property is as follows:
Rateable Value £39,500
Rates Payable 2016/2017 £19,631.50
Let to Personnel Hygiene Services Limited for a term of 20 years with effect from 16 April 2010 at a rental of £50,656.08 per annum and subject to rent review at the greater of OMV or RPI.
Offers are invited in the region of £734,000, reflecting a net initial yield of 6.5%, subject to contract and exclusive of VAT assuming standard purchasers costs at 5.8%.
Personnel Hygiene Services Limited is rated N1 by Dun & Bradstreet, with a sales turnover of £310,003,000 (March 2015) which represents a minimum risk of business failure.
The position with regards to VAT is reserved at all times and interested parties are advised to seek independent advice in relation to the matter.
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