Shepherd Developments
The development of all forms of
commercial property
Head Office:
Huntington House
Jockey Lane
York
YO32 9XW
Email: Shepherd Developments
Tel: 01904 650800
Fax: 01904 650801
News
Date
21/01/2008
Shepherd Developments sells Leeds Industrial Investment
Shepherd Developments has disposed of a 4 acre (1.62 hectare) industrial site at Gelderd Road, Leeds, LS12 6LZ to a private Trust, for circa £790,000.
The site is let to Portakabin Limited as a Hire Centre for a period of 25 years from June 1998, with a tenant's break clause at the 15th year. The initial rent of £58,500 per annum is subject to 5 yearly uplifts to the higher of open market value of the site or retail price index uplifts.
The property was acquired at a price reflecting a nett initial yield of just over 7%. King Sturge & Co (Tel: 0113 235 5209/5211) acted on behalf of Shepherd Developments' Leeds Office (Tel: 0113 242 2751). Brackenridge Hanson Tate (Tel: 0113 244 9020) represented the purchasers.
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