Freehold Industrial Ground Rent Investment

The property is located less than half a mile north of Leeds City Centre in a well established industrial and office location. Situated on the east side of North Street, the location provides close junctions with the A58 and A61, and in turn the A64(M) and A58(M) motorways. Leeds Railway Station and Leeds Bradford Airport are also within easy reach. The property comprises a site area of approximately 0.32 Ha (0.78 Acres) upon which sits a substantial industrial warehouse of approximately 1,674.18 sq m (18,020 sq ft) together with associated car parking areas. The freehold property is entirely let to Northern Bloc Ltd on a lease of 125 years from 21st May 1979 until 20th May 2104, producing a current rent of £16,000 per annum exclusive. The lease benefits from an important rent review in May 2029 and every 10 years thereafter, reviewable to 16% of the open market rental value of the land and buildings.