8 Airport West, Lancaster Way, Yeadon, Leeds
Size
12,447
Tenure
Leasehold
EPC
Parking
40
- Primary use
- Traditional office
- Capacity
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- Desks
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Building amenities
Additional costs may apply for some services – please check the full property description for more details.
- Parking
- Transport links
- Well connected
- Air conditioning
- Central heating
- Natural light
- Open plan
- Partitioned offices
- Plug and play
- Communal areas
- Communal gardens
- Common parts wc facilities
- Wifi
- Kitchen
- Outdoor seating
- Reception
- Security system
- Twenty four hour access
Key features
- Recent tenant capital expenditure demonstrating commitment to stay
- 40 on site parking spaces
- Long-standing secure blue-chip tenant
- 999 peppercorn lease with 980 years unexpired
- Recent internal refurbishment
- Flexible open plan, partitioned and meeting space throughout the building
Description
The property provides a modern well specified three storey office and is located at Airport West Business Park within close proximity to Leeds Bradford International Airport and boasting excellent transport links.
Let to Romero Insurance Brokers Ltd on a 7 year lease from 23 August 2020. N.B new reversionary Lease entered into from 23 August 2027 expiring 28 April 2034 with tenant only break on 29 April 2029. The tenant has recently committed to significant capital expenditure through a cladding replacement scheme demonstrating intent to occupy beyond April 2029.
Passing rent - £125,000 pax (£10.04 psf) reflecting a 59% discount to prime office rents in the region.
The property is on a long leasehold (999 year peppercorn lease).
The property extends to 12,447 sq ft across three floors together with 40 parking spaces providing an excellent ratio of 1:311 sq ft on the office NIA. There is also the option for additional parking at competitive rates on an adjacent site which is used by the current tenant.
Romero Insurance Brokers has a very good CreditSafe score of 61B and has been in occupation for 12 years. The tenant is now part of Arthur J Gallagher PLC, a blue-chip company and one of the world's largest insurance brokers with profit of c. $2bn+ annually demonstrating a successful and stable business.
The property has an EPC rating of C - 52
The property is on the market for offers in excess of £1,000,000 (One Million Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 11.82%, allowing for 5.75% purchase costs, and a low capital value of £80 per sq ft.
- Service charge
- Ask agent
- Business rates
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- Use class
- E
- Year built
- 2006
- Year renovated
- 2026
- Listed building
- No
- Floors in building
- 3
- Tenure
- Leasehold
- Length of lease
- Ask agent
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
8 Airport West, Lancaster Way, Yeadon, Leeds
About Industruct Ltd, Leeds
We're passionate about property that works for everyone. Managing one of the largest, family owned private investment funds, we have the strength, flexibility and customer focussed ethos that allows us to deliver the best results for agents, tenants, vendors and buyers.
With direct access to our fund manager and no red-tape, we're in the powerful position to make swift decisions across our portfolio, minimising the hassle of acquiring and running our properties.
About the owner: Industruct
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Disclaimer - Property reference 8airportwest. 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 Industruct Ltd, 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.