From
£1,660,000
(£28.78/sq. ft)
Retail premises for salePickering Street, Leeds LS12
57,675 sq. ft
About this property
Investment summary
Well-located freehold industrial and commercial estate situated approximately one mile west of Leeds city centre, within the established mixed-use area of Armley.
Substantial multi-let property of traditional mill and industrial buildings providing a total site area of approximately 1.11 acres.
Fifteen tenants currently in occupation, producing a current rent of £176,370 per annum, reflecting a low average rent of £4.41 per sq ft.
Estimated Rental Value of £255,620 per annum, offering significant reversionary potential and future income growth.
Demonstrated consistently high occupancy and strong re-letting performance, underpinned by affordable rents and the estate’s accessible location.
Freehold.
The transaction is to be treated as a Transfer of a Going Concern (togc).
Offers invited in excess of £1,660,000, subject to contract and exclusive of VAT, reflecting an attractive initial yield of 10.00% and a reversionary yield of 14.5%, assuming standard purchaser’s costs of 6.21%.
Low capital value of £28.80 per sq ft.
Description
Carlton Mills comprises a substantial
and versatile complex of traditional
mill and industrial buildings.
The property offers flexibility for occupation, investment, or
redevelopment (subject to planning).
The site is arranged over several interconnected buildings of
brick and stone construction beneath a combination of pitched
and flat roofs. Internally, the accommodation provides openplan
warehouse areas, workshops, and ancillary offices, with
natural light typical of traditional mill architecture.
Externally, the property benefits from good on-site circulation
and yard space, together with dedicated parking and loading
facilities accessed directly from Pickering Street. The estate
layout allows convenient vehicular access for deliveries and
trade operations.
The broader area is home to a diverse mix of occupiers, highlighting its proven track record as a successful commercial
location. Units on site are occupied by a range of independent
and established businesses across light manufacturing, engineering, fitness, and service sectors.
The estate is fully secure with gated access, security
fencing and CCTV is in operation.
Location
Carlton Mills occupies a prominent
position on Pickering Street in
Armley, approximately one mile west
of Leeds city centre.
The property benefits from excellent transport connections, with Armley Road (A647) providing direct access to Leeds and
Bradford city centres. The nearby M621 motorway links
efficiently to the M1 and M62 national routes.
Drive times
Road Distance Time
Leeds City Centre 2 miles 8 minutes
Bradford City Centre 8 miles 20 minutes
M1 6 miles 10 minutes
M621 9 miles 14 minutes
M62 13 miles 18 minutes
The estate is home to a variety of occupiers including
engineering firms, trade workshops, and fitness studios.
The wider surrounding area supports a thriving business
community, with national and local retailers such as Lidl, B&M, and Farmfoods located nearby on Armley Road. Regular bus
services operate along the main arterial routes, ensuring good
connectivity for staff and visitors.
The property offers a strategically positioned commercial
location, combining proximity to central Leeds with
convenient access to regional road networks and a
robust surrounding business environment.
Tenancy
The Estate is currently let to 15 tenants producing an annual
rent of £176,370 pa reflecting a very low £4.41 per sq ft average.
We consider the Estimated Rental Value (erv) on a headline
basis to be £255,620 pa.
The Estate has always demonstrated continued high
occupancy levels, which reflects the competitive rental price
point and excellent location of the asset.
Pricing
Offers are invited in excess of £1,660,000
(One Million, Six Hundred and Sixty
Thousand Pounds), subject to contract and
exclusive of VAT.
A purchase at this level reflects an initial yield
of 10.00% and a headline reversionary yield of
14.50%, assuming purchaser-s costs of 6.21%.
Attractive overall capital value of £28.80 psf.
Well-located freehold industrial and commercial estate situated approximately one mile west of Leeds city centre, within the established mixed-use area of Armley.
Substantial multi-let property of traditional mill and industrial buildings providing a total site area of approximately 1.11 acres.
Fifteen tenants currently in occupation, producing a current rent of £176,370 per annum, reflecting a low average rent of £4.41 per sq ft.
Estimated Rental Value of £255,620 per annum, offering significant reversionary potential and future income growth.
Demonstrated consistently high occupancy and strong re-letting performance, underpinned by affordable rents and the estate’s accessible location.
Freehold.
The transaction is to be treated as a Transfer of a Going Concern (togc).
Offers invited in excess of £1,660,000, subject to contract and exclusive of VAT, reflecting an attractive initial yield of 10.00% and a reversionary yield of 14.5%, assuming standard purchaser’s costs of 6.21%.
Low capital value of £28.80 per sq ft.
Description
Carlton Mills comprises a substantial
and versatile complex of traditional
mill and industrial buildings.
The property offers flexibility for occupation, investment, or
redevelopment (subject to planning).
The site is arranged over several interconnected buildings of
brick and stone construction beneath a combination of pitched
and flat roofs. Internally, the accommodation provides openplan
warehouse areas, workshops, and ancillary offices, with
natural light typical of traditional mill architecture.
Externally, the property benefits from good on-site circulation
and yard space, together with dedicated parking and loading
facilities accessed directly from Pickering Street. The estate
layout allows convenient vehicular access for deliveries and
trade operations.
The broader area is home to a diverse mix of occupiers, highlighting its proven track record as a successful commercial
location. Units on site are occupied by a range of independent
and established businesses across light manufacturing, engineering, fitness, and service sectors.
The estate is fully secure with gated access, security
fencing and CCTV is in operation.
Location
Carlton Mills occupies a prominent
position on Pickering Street in
Armley, approximately one mile west
of Leeds city centre.
The property benefits from excellent transport connections, with Armley Road (A647) providing direct access to Leeds and
Bradford city centres. The nearby M621 motorway links
efficiently to the M1 and M62 national routes.
Drive times
Road Distance Time
Leeds City Centre 2 miles 8 minutes
Bradford City Centre 8 miles 20 minutes
M1 6 miles 10 minutes
M621 9 miles 14 minutes
M62 13 miles 18 minutes
The estate is home to a variety of occupiers including
engineering firms, trade workshops, and fitness studios.
The wider surrounding area supports a thriving business
community, with national and local retailers such as Lidl, B&M, and Farmfoods located nearby on Armley Road. Regular bus
services operate along the main arterial routes, ensuring good
connectivity for staff and visitors.
The property offers a strategically positioned commercial
location, combining proximity to central Leeds with
convenient access to regional road networks and a
robust surrounding business environment.
Tenancy
The Estate is currently let to 15 tenants producing an annual
rent of £176,370 pa reflecting a very low £4.41 per sq ft average.
We consider the Estimated Rental Value (erv) on a headline
basis to be £255,620 pa.
The Estate has always demonstrated continued high
occupancy levels, which reflects the competitive rental price
point and excellent location of the asset.
Pricing
Offers are invited in excess of £1,660,000
(One Million, Six Hundred and Sixty
Thousand Pounds), subject to contract and
exclusive of VAT.
A purchase at this level reflects an initial yield
of 10.00% and a headline reversionary yield of
14.50%, assuming purchaser-s costs of 6.21%.
Attractive overall capital value of £28.80 psf.
Mortgage calculator
Monthly repayment
£8,304 per month
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