Leeds city centre retail investment acquired for £3.67m

Alterity Investments has bought Lands Lane/27 Albion Place in Leeds city centre from Hanro for £3.67m.

The property investment company was advised by Green & Partners on the purchase of the freehold investment of the retail site, which reflected a net initial yield of 4.73%.

The 5,611 sq ft prime retail property is let to Pret A Manger on a 10-year lease from March 2012 at a current rent of £185k a year.

The building consists of a basement, ground and three upper floors and is Grade-ll listed. It situated in the heart of Leeds city centre approximately 50 yards from the entrance to Trinity shopping centre.

Knight Frank and Gavin Black & Partners advised Hanro.