Gallagher Leisure Park, Leeds-Bradford

Investment - Sold

Gallagher Leisure Park, Leeds-Bradford

Price

£18,530,000

Description

■ Dominant leisure park anchored by a recently refurbished Odeon Luxe.

■ Situated between the 3rd and 6th largest cities in the UK.

■ Strong trading modern leisure scheme with generous customer car parking.

■ Large site with 12.75 acres of freehold ownership.

■ The total passing rent is £1,236,240 pa and this represents an affordable current average rent on the built space of £14.80 per sqft.

■ WAULT of 12.84 years and WAULT to tenants’ breaks of 12.22 years.

■ A well let scheme with 100% of the income let to tenants with a Very Low Risk Experian score.

■ 64% of the income is linked to RPI, capped and collared at 3% & 1%.

■ Asset management opportunities to optimise and improve the current lease terms and tenant line up, through regears and further development.

Net Initial Yield

6.25% NIY