Significant Leeds Dock site listed for £11.69 million

A major opportunity has opened up in Leeds’ thriving property market as the Canal & River Trust announces the sale of a significant 12.36-acre site at Leeds Dock. The site, listed with an asking price of £11.69 million, includes the Royal Armouries Museum and adjacent mixed-use developments, presenting a substantial investment potential in one of Leeds’ most vibrant areas.

Property Details:

• Site Size: 12.36 acres
• Asking Price: £11.69 million
• Seller: Canal & River Trust
• Agent: Avison Young

The freehold property sale comes with two 999-year ground leases, ensuring long-term stability for existing tenants and providing a unique chance for investors interested in a blend of cultural and commercial assets. The arrangement includes a non-disturbance agreement for the Royal Armouries Museum, a prominent cultural attraction, safeguarding its operation on the site.

The listing marks a pivotal moment in Leeds’ ongoing evolution as a digital and creative hub. While the site sale represents a strategic investment opportunity, other parts of Leeds Dock are seeing parallel growth. Allied London, a prominent developer, has outlined plans to remodel four buildings, intending to double the number of creative and media businesses in the area within the next two years. The site also plays host to leading UK real estate investment and infrastructure confernece, UKREiiF, which attracts over 13,000 attendees each year in May. This ongoing development complements the potential of the Canal & River Trust’s property, making it a focal point in Leeds’ expanding business and cultural landscape.

With Leeds Dock’s rising prominence as a creative and digital hotspot, this sale offers investors a prime location set to benefit from both stable, long-term leases and the area’s vibrant, forward-looking community.

David Winterbottom, principal at Avison Young, said: “Royal Armouries National Museum is a high profile, iconic building and it’s rare to be selling a development of such national importance that also benefits from leases of over 900 years on unexpired terms. 

“We expect a lot of interest in the asset from a mix of traditional investors, together with some high-net-worth individuals who will be attracted by the opportunity which is underpinned with long term income, vacant possession value and sub income from underleases.”