Unit sold for £1.16m
AN industrial unit located in a key position in Leeds has been sold for £1.16m.
London-based PRUPIM has sold the 25,517 sq ft industrial building at West End Approach, Morley, to a private purchaser.
The deal represents a capital value of £45 per sq ft and a net initial yield of 7.95 per cent.
Tenants Saint-Gobain Building Distribution Ltd are paying £97,500 per annum for a further 5.5 years.
Rebecca Farnsworth of property consultancy Knight Frank's Leeds office advised PRUPIM.
She said: “This transaction proved that deals can be done in this challenging climate, if the product is priced correctly and suited to current requirements. This sale generated strong interest.”
