Prime retail investment hits market

THE Barclays Bank regional retail headquarters in Leeds city centre is up for sale.

Naylors Chartered Surveyors has been instructed to sell the property on Albion Street, which has a price tag of £8.75m and produces an annual rental income of £500,000, secured against Barclays and Greggs until 2024.

Naylors, a North East-based independent property consultancy, already manage the building and has now been appointed as sole selling agents.

Fergus Laird, head of investment at Naylors, commented: “This is a particularly significant instruction for our investment team due to both the property’s value and location. Although the majority of Naylors’ agency instructions are located in the North East, Investment Agency and Management have a national reach and we have acquired a growing number of properties outside the region over the last few years including; York, Aberdeen, Edinburgh, Hull, and Bognor Regis.”

The 14,156 sq ft landmark building is located at the Southern end of Albion Street within Leeds’ prime retail area and close to the newly opened Trinity Leeds shopping centre.

Laird added: “This is a fantastic investment opportunity with 90% of the building’s income secured to Barclays for the next nine and a half years. It offers a safe solid return to both private investors, fund and property companies alike, looking to invest in a major city of growing national importance. We are already dealing with a number of serious enquires and expect further interest over the next few weeks.”