Property photos
Guide price
£825,000
(£89.88/sq. ft)
Retail premises for sale
Albion Street, Morley LS279,179 sq. ft
Local area information
Property location
Nearby amenities
- Queenswood School 0.2 miles
- The Morley Academy 0.2 miles
- Morley 0.5 miles
- Cottingley 1.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
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Town Centre Location
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Mixed Use
- 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
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
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
More information
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