LSH brings £5m Leeds office to market

Four storey, 25,400 sq ft Studios House sits to the western edge of Leeds centre in a mixed-use commercial area that includes Versa Studios.

Located on Whitehall Road, the office block is on a 0.5-acre site and is fully let to Leeds City Council for a term of 25 years until December 2044, with a current passing rent of £240,000 a year. This works out as a rate of £9.45/sq ft.

Agent Lambert Smith Hampton has said that the asking price reflects a net initial yield of 5%.

The purpose built office block accommodates production staff during filming at Versa. Credit: LSH

Studios House is right next to filming studio Versa, and has recently been used for productions such as Marvel’s Secret Invasion, Netflix’s Bodies, BBC’s Boat Story, and ITV’s The Long Shadow.

The first floor of the property is sub-let to Prime Focus Technologies for a term of 10 years until 28 November 2029, at a current passing rent of £90,000 a year, reflecting a rate of £13.72/sq ft.

Part of the roof space has also been sublet to Cornerstone Telecommunications Infrastructure, at a current passing rent of £15,388 a year. This agreement runs out in December this year.