A London-based institution has sold a well-located Leeds industrial unit for £1.16m.

Prumip has sold the 25,517 sq ft industrial building at West End Approach, Morley, to a private purchaser. The deal represented a capital value of £45 sq ft and a net initial yield of 7.95%.

Rebecca Farnsworth of property consultancy Knight Frank’s Leeds office advised Prupim throughout the sale. She said: “This transaction proved that deals can be done in this challenging climate if the product is priced correctly and suited to current requirements. This sale generated strong interest.”