Naylors instructed to sell prime retail investment in Leeds
Naylors Chartered Surveyors has been instructed to sell Barclays Bank regional retail headquarters on Albion Street in Leeds city centre.
The prime investment property is on the market for an asking price of £8.75 million and produces an annual rental income of £500,000 secured against two particularly strong PLC covenants in Barclays and Greggs until 2024.
Naylors, who already manage the building, have been appointed as sole selling agents.
Fergus Laird, head of investment at Naylors commented: ‘This is a particularly significant instruction for the investment team due to both the property’s value and location. Although the majority of Naylors’ agency instructions are located in the North East, Investment Agency and Management have a national reach and we have acquired a growing number of properties outside the region over the last few years including; York, Aberdeen, Edinburgh, Hull, and Bognor Regis.’
The property is located at the Southern end of Albion Street within Leeds’ prime retail area and close to the newly opened Trinity Leeds shopping centre. The 14,156 sq ft landmark building comprises a mid-terrace of five storeys with granite finish and prestige modern internal banking facilities, there is a Greggs on the ground floor.
Fergus Laird added; ‘This is a fantastic investment opportunity with 90% of the building’s income secured to Barclays for the next nine and a half years. It offers a safe solid return to both private investors, fund and property companies alike, looking to invest in a major city of growing national importance. We are already dealing with a number of serious enquires and expect further interest over the next few weeks.’