Fox Lloyd Jones launches £4m Leeds landmark to market

Owner ESR has appointed the real estate advisor to sell 84 Albion Street, a 32,000 sq ft mixed-use commercial building located between the retail and office districts of the city.

The seven-storey property is part-let and includes four 9,000 sq ft retail units on the ground floor, all of which are fully let and generating £220,000 each year.

The separately accessed upper floors are offices, including a five studio suites on the first floor and floorplates of 3,500 sq ft through the second to sixth floor.

There is a roof terrace on the second floor and most have part-fitted kitchens and meetings rooms.

In total, the building produces £295,000 each year with an average lease term of 4 years to expiry.

A recent feasibility study indicated potential for around 30 residential units across the upper floors.

Nick Salkeld, director at Fox Lloyd Jones, said: “We are pleased to bring 84 Albion Street to the market at a time when there is significant office rental growth opportunity in the Leeds city centre market and demand for high-quality value-add opportunities in core regional cities remains strong.

“The building provides a compelling blend of secure income and clear repositioning potential.

“Its central location, efficient floorplates and the flexibility inherent in the design mean it appeals to a wide range of investor groups looking to capture both short-term and long-term value.

“Leeds continues to demonstrate resilience and growth across office, retail and living sectors, and 84 Albion Street is exceptionally well placed within that context.”