Royal Armouries Museum land in Leeds up for sale for £11.7 million with 'unprecedented' 971-year lease secured

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The Royal Armouries museum in Leeds has been put up for sale with an asking price of nearly £12 million.

Current landowner the Canal & River Trust is looking for a new landlord for the site by Leeds Dock and has floated the sale with an asking price of £11.69m.

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The trust currently has the freehold on the South Bank site, which includes the museum as well as a 1,500 space multi storey car park, a hotel, 350 high-end residential apartments, 94,000 sq ft of office space and the New Dock Hall conference centre.

The Royal Armouries - which was recently in the national news thanks to a Gen-Z inspired marketing video - is subject to a lease for the next 971 years that is secured by a government body and is therefore guaranteed to stay open.

Your knight in shining armour could pick up some new clobber at this romantic venue. Famous for its grandiose atmosphere, couples can explore the impressive collection of arms and armour, with majestic displays and expert guides making this the perfect date for the thinking couples.Your knight in shining armour could pick up some new clobber at this romantic venue. Famous for its grandiose atmosphere, couples can explore the impressive collection of arms and armour, with majestic displays and expert guides making this the perfect date for the thinking couples.
Your knight in shining armour could pick up some new clobber at this romantic venue. Famous for its grandiose atmosphere, couples can explore the impressive collection of arms and armour, with majestic displays and expert guides making this the perfect date for the thinking couples.

Avison Young, who have been appointed to market the property, say that the museum produces an income of £591,500 per year.

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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.”

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