13-14 Park Place, Leeds, LS1 2SJ
Size
5,858
Tenure
Freehold
EPC
Parking
4
- Primary use
- Traditional office
- Other use(s)
- Other
- Capacity
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- Desks
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Key features
- Prime Grade II Listed multi-let office investment
- 5,858 sq ft (NIA) arranged over four floors
- 100% let across eight tenants
- Diversified income – no tenant more than 26% of rent roll
- Total passing rent £107,188 per annum (£17.12 psf)
- Comprehensively refurbished, all-electric M&E
- 10.00% net initial yield; £173 per sq ft capital value
- Freehold
- Offers over £1,013,000
Description
The property comprises a Grade II Listed late-Georgian end-terrace office building of traditional construction, arranged over four floors and totalling 5,858 sq ft (NIA), with a range of suite sizes between 302 and 1,413 sq ft. It was comprehensively refurbished in the mid-2010s, retaining and restoring key period features (including timber panelling, oak trusses and decorative plasterwork) whilst introducing all-electric M&E and LED lighting throughout. Four external car parking spaces are provided within a secure rear yard.
The property is 100% let across eight tenants, providing well-diversified income with no single tenant contributing more than approximately 26% of the rent roll. Total rent passing is £107,188 per annum, reflecting a low average of £17.12 per sq ft.
Tenure: Freehold (title number WYK409543).
Offers are sought in excess of £1,013,000 (One Million and Thirteen Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.00% and a low capital value of £173 per sq ft, after standard purchaser's costs of 5.76%, and is fully supported by vacant possession values.
EPC rating B. The property has been elected for VAT; it is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).
Park Place is positioned at the heart of Leeds' central business district, immediately south of Park Square, the city's traditional Georgian legal pitch. The building forms part of a continuous terrace of period office accommodation, with Leeds Railway Station, Wellington Place and City Square all within a five minute walk and Trinity Leeds around seven minutes away. Nearby occupiers include Walker Morris, DLA Piper, Eversheds, Pinsent Masons, Schofield Sweeney and Addleshaw Goddard. Leeds benefits from direct rail services to London King's Cross (2h 15m), Manchester (52m), Birmingham New Street (1h 53m) and York (22m).
- Service charge
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- Business rates
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- Use class
- E
- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
Read more about EPC requirementsAsk agent
- BREEAM rating
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- Environmental description
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Brochure
13-14 Park Place, Leeds, LS1 2SJ
About Northcap, Leeds
Northcap are a specialist commercial property agency dedicated to leasing and selling commercial property, including industrial units, logistics warehousing and offices. The NorthCap vision is simple, firstly, to provide honest, market leading advice to our clients with no compromise on customer service.
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Disclaimer - Property reference 378716-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Northcap, Leeds. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.