Investment Summary
- A prime 200,000 sq ft block of retail real estate centrally located within Leeds City Centre.
- Leeds is one of the leading shopping locations in the UK. CACI’s Retail Footprint 2011 ranks Leeds as 7th in the UK by retail expenditure estimated at some £1.5bn per annum.
- The third most populous catchment in the UK.
- Large island site area of 1.95 acres situated in the prime city centre retail core.
- Fashion led destination, anchored by Sports Direct, JD Sports and Waitrose.
- Large, well configured external facing retail units.
- The centre is held Freehold.
- The importance and strength of The Core is anticipated to improve following the development of Trinity, Leeds opening in 2013.
- The Core was subject to a major refurbishment programme in 2009.
- Extensive and immediate asset management opportunities.
- Strong income profile with 100% of income secured against national multiple retailers.
- Weighted unexpired lease term of 8.6 years.
- The asset currently produces a gross passing rent of £3,632,294 per annum and a net passing rent after the deduction of landlord shortfalls of £3,234,307 per annum.
- Estimated rental value £4,079,000.
A rare opportunity to acquire a prime Leeds city centre retail block, incorporating large, well configured stores, with immediate asset management potential.