Substantial Freehold Multi-let industrial estate - For Sale

Key Features

• Well-located freehold industrial and commercial estate situated approximately one mile west of Leeds city centre, within the established mixed-use area of Armley.
• Substantial multi-let property of traditional mill and industrial buildings providing a total site area of approximately 1.11 acres.
• Fifteen tenants currently in occupation, producing a current rent of £176,370 per annum, reflecting a low average rent of £4.41 per sq ft.
• Estimated Rental Value of £255,620 per annum, offering significant reversionary potential and future income growth.
• Offers invited in excess of £1,660,000, subject to contract and exclusive of VAT, reflecting an attractive initial yield of 10.00% and a reversionary yield of 14.5%, assuming standard purchaser’s costs of 6.21%.
• Low capital value of £28.80 per sq ft.
• Freehold.

Description

Carlton Mills comprises a substantial and versatile complex of traditional mill and industrial buildings.

The property offers flexibility for occupation, investment, or redevelopment (subject to planning). The site is arranged over several interconnected buildings of brick and stone construction beneath a combination of pitched and flat roofs. Internally, the accommodation provides open plan warehouse areas, workshops, and ancillary offices, with natural light typical of traditional mill architecture.

Externally, the property benefits from good on-site circulation and yard space, together with dedicated parking and loading
facilities accessed directly from Pickering Street. The estate layout allows convenient vehicular access for deliveries and
trade operations. The broader area is home to a diverse mix of occupiers, highlighting its proven track record as a successful commercial location. Units on site are occupied by a range of independent and established businesses across light manufacturing, engineering, fitness, and service sectors.

The estate is fully secure with gated access, security fencing and CCTV is in operation.

Location

Carlton Mills occupies a prominent position on Pickering Street in Armley, approximately one mile west of Leeds city centre.

The property benefits from excellent transport connections, with Armley Road (A647) providing direct access to Leeds and
Bradford city centres. The nearby M621 motorway links efficiently to the M1 and M62 national routes.

The estate is home to a variety of occupiers including engineering firms, trade workshops, and fitness studios. The wider surrounding area supports a thriving business community, with national and local retailers such as Lidl, B&M, and Farmfoods located nearby on Armley Road. Regular bus services operate along the main arterial routes, ensuring good connectivity for staff and visitors.

The property offers a strategically positioned commercial location, combining proximity to central Leeds with convenient access to regional road networks and a robust surrounding business environment.

Terms

Offers are invited in excess of £1,660,000 (One Million, Six Hundred and Sixty Thousand Pounds), subject to contract and
exclusive of VAT.

A purchase at this level reflects an initial yield of 10.00% and a headline reversionary yield of 14.50%, assuming purchaser’s costs of 6.21%.

Attractive overall capital value of £28.80 psf.