£2.55m investment sold on Park Row in Leeds city centre

Acting on behalf of a private investor client, UK City Commercial has sold a freehold investment in Leeds city centre let to The Royal Bank of Scotland.

The investment, which occupies a prominent location on Park Row, achieved a total value of £2.55m.

The property is let to The Royal Bank for 10 years at an annual rental of £165k and also includes the long leasehold interest of the apartments above, known as Bedford Chambers.

Alistair Russell, managing director of UK City Commercial, commented: “This has been a 3 year project.

“First of all to secure a new lease to the Royal Bank of Scotland who remained committed to a site they have been represented in for many years. Park Row remains a very strong location for financial institutions.

“We then had to navigate the vagaries of the property markets in 2016 as a consequence of the Brexit vote in June.

“The quality of the tenant and the location won through and was snapped up by a local private investor keen to secure a prime asset in Leeds.”

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