Landmark North Leeds building goes on sale for c.£7m.

Posted on Jun 11, 2021 by Natalie Phillips

Landmark North Leeds building goes on sale for c.£7m. 

Temple House, which has a highly prominent roadside position fronting the A6120 Leeds Outer Ring Road at Seacroft, is being offered for sale more than £7m.

The announcement comes a few weeks after announcing it was fully let, having agreed leases with Ninja Warrior UK, and global services office provider, Instant Managed Offices. Both are now on site working on their respective fit outs.

The two companies have joined existing tenants Virgin Media, Vet Partners, and Premier Martial Arts, providing a combined passing rent of approximately £566k per annum reflecting an approx. 7.5% yield.

The property, which is being marketed by Fox Lloyd Jones, extends to 102,437 square feet, and sits across a combined 3.06 acres.

Formerly an office and warehousing facility, it has been significantly upgraded and sub-divided to create a multi-let mixed-used property containing self-contained offices, leisure, clinic, and data centre premises.

It also has extensive car parking both on site and in a dedicated adjacent car park with 155 allocated spaces in total.

Nick Salkeld, director of Fox Lloyd Jones, the selling agents said,

“We are delighted to bring Temple House to the market with average unexpired income over 6.5 years. At £68.00 per sq ft it reflects excellent value. The variety and quality of tenants demonstrates the building’s versatility and appeal long term.

“Ninja Warriors UK has taken 40,000 square feet to replicate the assault course, made popular by the hit ITV series, Instant Offices is providing a fully managed office solution for a government client, and Virgin Media are using it as a communications hub and data centre.

“This part of North Leeds is a long established and popular mixed-use location with office parks, trading estates, HQ facilities and destination retail and leisure premises.

“As well as being highly visible to the high volume of traffic using the outer ring road, it is only four miles from Leeds city centre and is close to the A58 Wetherby Road and A64 York Road, connecting to J46 of the M1.”

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