Acting on behalf of CBRE Investment Management, Clifton Agency has sold the freehold interest at 50-54 Vicar Lane & 7-9 Ludgate Hill in Leeds for £1,550,000. The sale comprised a RPI indexed Sainsbury’s Local, William Hill bookmaker and a smaller vacant unit fronting Ludgate Hill. At the point of completion, the investment produced a combined income of £191,892 per annum.
The property is located on a prominent corner location on Vicar Lane between the newly developed Victoria Gate shopping centre, anchored by John Lewis, The Victoria Quarter/County Arcade, which acts as a thoroughfare from prime Briggate, and the Kirkgate Market.
Ben Simpson commented:
“It was great to work again with clients at CBRE IM to sell this convenience retail investment in the heart of Leeds City Centre. Our involvement in the property backdates to early 2021 where we provided strategic advice to ready the asset for sale, including regearing the William Hill lease to remove a break clause and assistance in identifying a tenant for the vacant unit.”
Clifton Agency continue to advise on a range of freehold properties across Leeds. We have strong links to the City and as a result are well placed to advise both vendors with upcoming disposals and investors with live requirements.
For further information on this deal or to discuss anything Leeds related, please get in touch with investment team at Clifton Agency.
Commenti