Leeds Royal Armouries museum on the market for £11.69m
The Canal & River Trust - which currently owns the Clarence Dock site - is looking to sell the iconic museum and surrounding properties
The iconic Royal Armouries Museum in Leeds is up for sale, with current landowner the Canal & River Trust looking to raise almost £12m.
The organisation currently has the freehold on the Clarence Dock site, which also includes 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 Armouries are guaranteed to remain open, as its lease is secured by the government.
The 12.36 acre site is being marketed by property firm Avison Young, with a guide price of £11.69m
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.”
The Royal Armouries museum was purpose built at a cost of £42.5m in 1996.