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Retail premises for sale

£825,000 (£89.88/sq. ft) Guide price

Albion Street, Morley LS27

Retail premises for sale 9,179 sq. ft*
Interested in this property? Call +44 113 482 6319 * or Request Details

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Property features

  • Freehold sale
  • £825,000
  • Multi let mixed use investment - retail, office, leisure tenants
  • Net rental income £76,820 per annum
  • 9,179 sq ft set over ground, first and second floor
  • Net Initial Yield of 8.86% assuming purchasers' costs of 5.53%
  • Highly reversionary asset with 35% vacancy rate

Property description

The 4 Ground Floor Retail Units - including a national covenant, café, Italian Restaurant and Sunbed shop all units have been fully let for the last 10 years without voids. The Retail units provide a strong, consistent income.
1st Floor - recently modernised, comprising of a mix of studio/offices, with a range of small business, including office occupiers and a range of E- Use Class tenants including therapists and a Martial Arts Club, providing a varied mix of modern users and is currently fully let. Opportunity to drive the rental income and secure longer agreements whilst the current agreement are on flexible licence terms.
2nd Floor - offers an interesting proposition for refurbishment or conversion. May be of interest to a special purchaser, providing 3,284 sq ft of leisure space:- Dancehall, community uses, clubs, events. The Dancehall has recently come vacant and requires modernising, there is letting interest from a range of occupiers. To the rear of property is a cobbled access into a Service Yard / Car Park

Property info

* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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For more information about this property, please contact
LM1 Agency, LS17 on +44 113 482 6319 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by LM1 Agency, and do not constitute property particulars. Please contact LM1 Agency for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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