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Leeds Road Retail Park

Leeds Road Retail Park, Huddersfield, HD1 6PF 203,951 sq ft

Description

Huddersfield is a well located and substantial commercial centre in West Yorkshire, 20 miles south west of Leeds Serves a large catchment with over 248,000 people living within 15 minutes’ drive, rising to over 510,000 people within 20 minutes Leeds Road Retail Park is a DIY and discount-led retail park extending to 203,951 sq ft Anchored by B&Q to 2030, Home Bargains to 2030 and B&M to 2029 Over 80% of the income is secured against ‘essential retailers’ Other occupiers include Wren, ScS, Dreams, Bensons for Beds, Burger King, Starbucks, Subway and Greggs Virtual freehold bids received from both Aldi and Lidl for the two units adjacent to B&Q Attractive WAULT of 8.6 years (7.6 years including tenant breaks) Produces a rental income of £2,426,570 per annum, a low average rent of £13.52 per sq ft Class E planning consent. Generally ‘Bulky Goods’ with relaxations Majority freehold site totalling 16.43 acres (6.6 hectares) We are instructed to seek offers in excess of £32,000,000 (Thirty Two Million Pounds), subject to contract and exclusive of VAT. A purchase at this level, apportioning £3,000,000 to the redevelopment site, reflects an attractive net initial yield of 7.91%, assuming full purchaser’s costs This reflects £1.95 million per acre and £157.00 per sq ft

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