Unit 6 Felnex Square, Cross Green Industrial Estate, Leeds, West Yorkshire

Description

A highly prominent detached industrial / warehouse premises with total accommodation of approximately 1,426.83 sq m (15,358 sq ft), located within the established Cross Green Industrial Estate. The property occupies a prominent corner position with frontage to Pontefract Lane (A63).

Accommodation

Total accommodation of approximately 1,426.83 sq m (15,358 sq ft). Eaves height of 7.69 metres; loading via 2 dock level; 3 raised and 1 ground level roller shutter door; and two-storey integral offices.

Location

The property is situated within the established popular Cross Green Industrial Estate, approximately 2 miles from Leeds City Centre and 1.5 miles from the M1 Motorway (junction 45). It is situated on the south side of Felnex Road, at its junction with Newmarket Lane, and benefits from frontage to Pontefract Lane (A63).

Tenure / Property Information

Investment Analysis

The only supplied completed sale is 1–5 Felnex Square at £1,920,000 in June 2022. It is a potentially relevant local industrial comparable, but it is a different property and no size, condition, specification or transaction-adjustment evidence is supplied. An indicative base GDV of £1,920,000 is therefore used cautiously; supported low and high scenarios cannot be established. The guide range is £1.1m–£1.2m, with VAT and potentially other charges applicable, but the amounts are not provided.

Investment Snapshot

Strategy Recommendation

Do not underwrite as BTL or BRRR on the supplied evidence. Proceed only after independent commercial valuation, rental appraisal, building survey, VAT/fee confirmation and verification that the comparable is sufficiently comparable; otherwise remain price-disciplined or avoid.

Works Required

No specific defects or required works are evidenced. Allow for inspection and verification of the warehouse, dock and roller-shutter doors, offices, services, fabric, fire-safety compliance and statutory commercial requirements before bidding; no numerical works allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The indicative £1,920,000 GDV is above the £1.1m–£1.2m guide range, and 75% of that indicative GDV is £1,440,000. However, refurbishment costs, VAT treatment, buyer or administration charges, finance costs, achievable rent and refinance valuation are unknown. A reliable cash-left-in or BRRR return cannot therefore be calculated.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Consequently, rent, annual income and gross yield are unsupported. The property is vacant and commercial letting demand, achievable rent and lease terms require separate evidence.

Flip Analysis

The sole supplied comparable indicates potential value above the guide, but it is from a different property and dated June 2022. No supported selling allowance, VAT treatment, works budget or other project costs are available, so an estimated flip surplus and maximum bid cannot be calculated. The apparent guide-to-comparable spread should not be treated as profit.

Investor Risks & Due Diligence

• VAT is applicable, but the amount and recoverability are not supplied.

• Additional seller or third-party charges may apply and are unquantified.

• No sufficiently specific rental evidence or passing rent is supplied.

• The property is vacant, creating letting, void and tenant-demand risk.

• The sole comparable is a different property and dates from June 2022, with no size, condition or specification details supplied.

• Condition, statutory compliance, services and refurbishment requirements are not evidenced.

• No supported low/high GDV range, project budget or maximum bid can be established.

Recommendation

Do not underwrite as BTL or BRRR on the supplied evidence. Proceed only after independent commercial valuation, rental appraisal, building survey, VAT/fee confirmation and verification that the comparable is sufficiently comparable; otherwise remain price-disciplined or avoid.

Strategy Rating

Analysis Confidence

The property size, specification, tenure, vacancy and one local completed sale are supplied, but there is no rental evidence, condition assessment, EPC, fee schedule, VAT amount or comparable-adjustment data.