For Sale

11 Oldfield Lane, Leeds, West Yorkshire, LS12 4DS

Freehold

£13,700,000 / NIY 7.50%

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Property specification

  • Large warehouse and ancillary offices totalling 14,556 sq m (156,681 sq ft). Eaves heights ranging from 7.5m - 12.0m with an average of 9.65m.
  • Site of approximately 10.03 acres (4.06 hectares).
  • Let to CarnaudMetalbox Engineering Ltd on a recently signed reversionary lease providing 20 years unexpired, subject to a tenant break option in year 15. Excellent tenant covenant (D&B 5A2).
  • Passing rent of £728,576 per annum exclusive (£4.65 psf) with a fixed uplift in October 2026 to £1,096,676 per annum reflecting £7.00 psf. The passing rent will be topped up to this level by the vendor on completion.
  • The rent is subject to 5 yearly upward only rent reviews from 2031 to the higher of OMRV or CPI (1.00% collar - 3.00% cap).
  • Extensively refurbished in the last 5 years at a cost exceeding £7.7m, including recladding, roof replacement and degassing.
  • EPC B36.
  • Offers are sought in excess of £13,700,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 7.50% based on the topped up rent, assuming standard purchaser's costs of 6.72%.
  • RUNNING YIELD ASSUMING 2% PA CPI 2026 7.50% 2031 8.12% 2036 8.96% 2041 9.90%
  • £13,700,000 / NIY 7.50%

07771 973245
Andrew.Groves@bidwells.co.uk


Brochure

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Location

The property is situated approximately 1 mile south west of Leeds city centre in Wortley. The subject property is within 500m of the Armley Gyratory, a major
interchange which forms part of the inner ring road.

Train Stations
  • Beeston 2.35km
  • Financial District 2.40km
  • Leeds 2.40km
  • Headingley 2.58km

Property Advisor

101391

Andrew Groves

Managing Partner, Commercial

Known for his tenacity and ability to unearth unusual opportunities, Andrew leads our London office and capital markets team.

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Richard Walden

Associate, Capital Markets

Equipped with a methodical and analytical approach, Richard strives to secure his clients the best deals possible – often leading to repeat business.

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Thomas Handy

Surveyor, Capital Markets

Thomas is a Surveyor working on acquisitions and disposals in our capital markets team.

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To Let

11 Oldfield Lane, Leeds, West Yorkshire, LS12 4DS

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