commercial property - Other for sale in LS2 8LQ, for £33,000,000 by Knight Frank - Proptyle

commercial property - Other for sale in LS2 8LQ, for £33,000,000 by Knight Frank

Mixed Use for sale in St Johns, Merrion Street, Leeds, LS2 8LQ, £33,000,000

A little more about the property St Johns is a prime mixed use investment opportunity offering stable income, index linked growth on 27% of total income, and development potential, with a significant land holding in the city centre of 2.42 acres. The property comprises 84,705 sq ft of fully let office accommodation, a 278 space car park leased to Q-Park Ltd with parent guarantee and annual fixed increases for a further 37 years, growing restaurant and fast food uses and a small element of retail income. We have been instructed to seek offers in the region of £33,000,000 which shows a Net Initial Yield of 8.09%, assuming purchasers costs of 6.77%, subject to contract and exclusive of VAT. Property type Mixed Use Land 2.42 acres (0.98 hectares) Tenure Freehold Property features 2.42 acres / 0.98 hectares Net Initial Yield 8.09% Investment