£2.5m sought for retail investment opportunity in Leeds’ jewellery quarter
A property let to two luxury retailers in Leeds‘ jewellery quarter has been placed on the market with a price tag of £2,485,000, reflecting a net initial yield of 7%.
The investment opportunity at 54/55 Briggate is let in its entirety to Signet Trading – trading as IWC Schaffhausen and Montblanc – and produces an annual rent of £185,000.
The freehold property has a total net internal area of 5,556 sq ft arranged across basement, ground, first, second, and third floors. The ground floor spans 1,356 sq ft and has been split to allow two fascias to trade from the unit side by side.
A purchase of the asset also provides potential future scope to covert the upper parts of the building into residential accommodation.
The property is situated amongst the primary retail pitch in Leeds, which is located along Briggate and houses the city’s department stores. Nearby retailers include Flannels, which in 2024 opened its sixth flagship store in the former Debenhams at 115-126 Briggate.
Nearby luxury retailers include Berry’s Jewellers, Omega, Tag Heuer, Panerai, Chisolm Hunter and Beaverbrooks, while the wider area is home to the likes of M&S, New Balance, Harvey Nichols, JD Sports, and Zara.
FMX Urban Property Advisers has been appointed to find a suitable buyer.