Monday, October 25, 2021
HomeNewsCouncil to sell Burley Street commercial property to raise money

Council to sell Burley Street commercial property to raise money

Words: John Baron

Leeds City Council is set to sell a commercial property in Burley Street in a bid to raise much-needed funds.

The three-storey building at 18-22 Burley Street is split into three commercial units, all of which are currently let. A council report says all tenants are aware of the council’s intention to sell the site.

The local authority says it is inviting offers as the building is now deemed surplus to requirements. A council report states:

“The property, which was constructed in around 1910, is currently in a poor state of repair and its poor condition and tertiary location mean that the site is yielding a very low income for the Council. It is considered the site has more value as a redevelopment opportunity than its short-term rental income to the council.

“The property comprises three retail units, each is occupied. The tenants are aware of the council’s intentions to market and seek offers with the aim of securing a sale. The tenants are not being requested to vacate; the marketing and any subsequent sale is being promoted with them remaining in place.”

The full council report can be read in full here.

The sale of the building, which dates back to 1910, is expected to raise in excess of £500,000.

WLD cutswatch

West Leeds Dispatch‘s Cutswatch series has been following proposed council budget cuts over the past few months here.

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