Leeds, United Kingdom
£7,250,000
Price paid to the seller for the asset
£352,350
Stamp Duty Land Tax paid to the government for the purchase
£145,000
Commission paid to estate agent to execute transations
£17,500
Expenses incurred to complete the transaction
£32,400
Expenses incurred w.r.t Special Purpose Vehicles
£43,492
Funds reserved for contingencies
£109,257.5
Expenses incurred to arrange debt financing
There is an opportunity to purchase a Class A warehouse totaling 108,067 sf in Benyon Park Way, Leeds, UK, tenanted to Encon for 5.7 years (lock-in) at an all-in price of £7,950,000 (£67.1 per sf) which sets-up to a £9.00% cash-on-cash yield.
Encon is one of the largest construction material distributors in the UK. Formed in 1981,the company primarily distributes insulation, building construction & interior supplies through its 23 hubs across the UK. Leeds is the 3rd largest city in the England after London and Birmingham. London is 2.5 hours by train. We believe this is a rare opportunity to acquire a highly prominent Class A warehouse tenanted to Encon with a 5.7+ year unexpired lease term.
Encon is one of the largest construction material distributors in the UK. Formed in 1981,the company primarily distributes insulation, building construction & interior supplies through its 23 hubs across the UK.
Total Area
108,067 sq.ft
Rent per sq.ft
£4.49
Credit Risk Rating
-
Rent Review
Every 5 years
Tenant Break
-
Lease Period
10 years
Rent Review Type*
Upwards Only
Leeds is the 3rd largest city in the England after London and Birmingham. London is 2.5 hours by train.
The asset spans across 108,067 sf over a large site area of 5.24 acres. The eaves height to the lowest point is 6.5m and there are 10 ground level access doors. Externally there is a separate car park providing 67 car spaces. The unit has been leased to Encon, a leading building material distributor.
