Watling instructed to market Lambert’s Yard – prime mix-use investment in central Leeds

A prime Leeds city centre mixed use development has been put up for sale by Watling Real Estate.

Lambert’s Yard, at 162-165 Lower Briggate in Leeds city centre, is a recently developed investment opportunity incorporating 19 self-contained apartments and three prominent retail units.

Watling is instructed to sell the freehold and long leasehold interests in the property, which is currently 97% occupied and generates a gross income of approximately £470,000 per annum, with residential units producing £347,000, and commercial accommodation £123,000.

Rob Cruikshank, associate director in Watling’s Leeds office, said: “Lambert’s Yard brings a unique approach to providing residential accommodation in the Leeds market. The scheme offers high quality accommodation around a private courtyard area that benefits from being at the heart of Leeds City Centre.

“There is a growing movement for the development of residential schemes within the retail & leisure core of Leeds City Centre. The property’s occupancy rate speaks for itself, and there is clearly strong demand in the market for residential schemes in this locale.

“At present, we are seeking expressions of interest for the property and expect a strong level of interest, given the quality and positioning of the scheme. We believe it will be of interest to local, regional and national investors alike.”

The centrepiece of the scheme – Lambert’s House – has been developed around a Grade II Listed building that is widely regarded as being one of the oldest buildings in Leeds city centre.

The 19 apartments on the scheme have retained many of the original features of the building such as exposed brickwork and wood beams thought to date from the 17th century. Access to the residential area is via a secure gated entrance on Lower Briggate, leading into a central courtyard area.

The development includes a communal residents’ lounge and co-working space, and at the rear of the courtyard are communal rooms used as a post room and cycle storage area.

More details are available at https://watling.com/property/223031/ or by contacting rob.cruikshank@watling.com, james.bunce@watling.com or ian.whittaker@watling.com

Ends

For further information, please contact:

Rob Cruikshank, Associate Director, Watling Real Estate, One The Embankment, Neville Street, Leeds, LS1 4DW

rob.cruikshank@watling.com

Issued by ASAP PR – 07990 978257

Editors’ Notes

Watling Real Estate was created on 1 June 2023 by a management buyout of the real estate restructuring division of Avison Young. The business is headquartered in London with a network of offices in Birmingham, Manchester, Leeds and Bristol, providing national coverage with the benefit of local and regional expertise.  It has a team of 20+ professionals offering a multi-disciplinary real estate advisory business and will immediately become one of the UK’s largest real estate restructuring consultancies.

The team, originally part of the GVA business and more recently Avison Young post-merger in 2019, is one of the most highly regarded and experienced real estate advisors operating within the restructuring and recovery marketplace. Over the past decade, the team has advised or transacted on real estate with a total value of over £11 billion, having worked on some of the most significant real estate restructuring projects in the UK.

Watling Real Estate is backed by Bassi Capital, a private family office with extensive core investments in the real estate sector including publicly listed companies, private limited companies, and joint partnerships. https://bassicapital.com/