Retail premises for sale in Queen Street & Albion Street, Morley, Leeds LS27

Description

The property comprises a highly prominent modern and versatile two storey purpose-built retail and leisure property. There are five well configured retail units at street level and a large open plan event space at first floor level. In the future, the first floor would lend itself to either office space or residential conversion into apartments subject to planning. The property has an attractive curved glazed frontage underneath a flat roof.

Location

Morley is a market town and a civil parish within the City of Leeds metropolitan borough, in West Yorkshire, England. Morley is the largest town in the Borough of Leeds after Leeds itself. Leeds is the main commercial centre of West Yorkshire, located approximately 40 miles east of Manchester, 196 miles north of London and 62 miles west of Hull. The city region has a £69bn economy and is home to approximately 3 million people. Leeds is the third largest employment centre in the UK outside of London.

The property is situated in a prominent position on the corner of Queen Street and Albion Street in the heart of Morley town centre.

Proposal

We are instructed to seek offers in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 9.83% and a low capital value of £70.13 psf, assuming purchaser’s costs 5.40%