Units A1, A2, A4 and Elant House Lowfields Business Park, Old Power Way Elland, Nr Leeds West Yorkshire HX5 9DA

Units A1, A2, A4 and Elant House
Lowfields Business Park, Old Power Way
Elland, Nr Leeds
West Yorkshire
HX5 9DA

Freehold Office Investment

  • Comprises four modern and attractive office buildings on well established and busy mixed use industrial and office park
  • Tenants include The NFU Mutual Insurance Limited and Hexstone Limited
  • Approximately 0.87 hectares (2.14 acres) with a low site coverage of approximately 19%
  • Active Management Potential
  • Producing £245,930 p.a.x. (subject to note 4)
  • Lot
    15
  • Auction
    13th July 2017
  • Rent
    £245,930 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Legal & General
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Office Investment

  • Comprises four modern and attractive office buildings on well established and busy mixed use industrial and office park
  • Tenants include The NFU Mutual Insurance Limited and Hexstone Limited
  • Approximately 0.87 hectares (2.14 acres) with a low site coverage of approximately 19%
  • Active Management Potential
  • Producing £245,930 p.a.x. (subject to note 4)
  • Lot 15
  • Auction 13th July 2017
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Legal & General

Property Information

Location
Miles
18 miles south-west of Leeds, 26 miles north-east of Manchester
Roads
M62, A629
Rail
Brighouse Railway Station
Air
Leeds Bradford Airport
Situation

Lowfields Business Park is a well established and busy mixed use industrial and office park located some 18 miles south-west of Leeds between Halifax and Huddersfield and with excellent access to junction 24 of the M62 motorway, which is some 1.5 miles to the south. The property is situated off the west side of Lowfields Way and at its junction with Old Power Way.

Tenure

Freehold.

Location
Miles
18 miles south-west of Leeds, 26 miles north-east of Manchester
Roads
M62, A629
Rail
Brighouse Railway Station
Air
Leeds Bradford Airport
Situation

Lowfields Business Park is a well established and busy mixed use industrial and office park located some 18 miles south-west of Leeds between Halifax and Huddersfield and with excellent access to junction 24 of the M62 motorway, which is some 1.5 miles to the south. The property is situated off the west side of Lowfields Way and at its junction with Old Power Way.

Tenure

Freehold.

Description

The property comprises a level site of approximately 0.87 hectares (2.14 acres) and benefits from a low site coverage of approximately 19%, upon which there are four modern and attractive two storey office buildings and car parking for 129 cars, providing a car parking ratio of 1:215.

VAT

VAT is applicable to this lot.

Note

During the printing process for the printed Auction catalogue, the Lot numbers for lots 6 and 15 have been inadvertently transposed. We have now amended the property details on the Acuitus website to correctly show Units D1 and D2 as Lot 6 and Units A1, A2, A4 and Elant House as Lot 15.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a level site of approximately 0.87 hectares (2.14 acres) and benefits from a low site coverage of approximately 19%, upon which there are four modern and attractive two storey office buildings and car parking for 129 cars, providing a car parking ratio of 1:215.

VAT

VAT is applicable to this lot.

Note

During the printing process for the printed Auction catalogue, the Lot numbers for lots 6 and 15 have been inadvertently transposed. We have now amended the property details on the Acuitus website to correctly show Units D1 and D2 as Lot 6 and Units A1, A2, A4 and Elant House as Lot 15.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
A1 Ground
First
Office
Office
190.47 sq m
188.00 sq m
(2,050 sq ft)
(2,024 sq ft)
VACANT POSSESSION      
A2 Ground
First
Office
Office
218.96 sq m
216.22 sq m
(2,357 sq ft)
(2,327 sq ft)
STONEWATER LIMITED
(1)
25 years from
01/03/1996
£62,575 28/02/2021
A4 Ground Office
234.38 sq m
(2,523 sq ft)
THE NFU MUTUAL
INSURANCE LIMITED
10 years from
15/12/2010
£32,305 14/12/2020
A4 First Office
236.70 sq m
(2,548 sq ft)
HEXSTONE LIMITED (3) 5 years from
05/06/2013
£32,700 04/06/2018
Elant
House
Ground
First
Office
Office
646.88 sq m
646.88 sq m
(6,963 sq ft)
(6,963 sq ft)
REACTIVE MEDIA
LIMITED
Approx 12
years from
04/12/2014
£118,350 (4) 18/11/2026
Totals  
2,578.49 sq m
(27,755 sq ft)
    £245,930 (4)  

(1) Stonewater Limited were incorporated in 1981. Stonewater is one of the UK's most significant social housing providers, with 30,000 homes under management and £1.6 billion in assets (Source: www.stonewater.org).
(2) For the year ending 31st December 2016, National Farmers Union Mutual Insurance Society Limited (The) reported a turnover of £1,637,000,000, pre-tax profits of £1,243,000,000 and a total net worth of £6,688,000,000 (Source: www.riskdisk.com 01/06/2017).
(3) Hextone Limited were incorporated in 1947 and for the year ending 31st December 2015 reported a turnover of £56,472,000, pre-tax profits of £2,727,000 and a total net worth of £33,800,000 (Source: www.riskdisk.com 01/06/2017).
(4) Reactiv Media Limited are not currently occupying the property and are not paying the rent due under the terms of their lease. The tenant has been put into liquidation on 15th April 2016. The lease has not yet been disclaimed.

Property Documents

  • Site Plan
    Updated Date
    28.06.17
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    28.06.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Evershed Sutherland
Simon Harris +44 (0)113 200 4786simonharris@eversheds-sutherland.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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