Units D1 & D2 Lowfields Business Park Elland Riorges Link Elland, Nr Leeds West Yorkshire HX5 9DG

Units D1 & D2 Lowfields Business Park
Elland Riorges Link
Elland, Nr Leeds
West Yorkshire
HX5 9DG

Freehold Office Investment

  • Comprises two modern and attractive office buildings adjacent to well established mixed use industrial and office park
  • Tenants include Vaillant Group UK Limited and Northern Powerhouse Developments Limited
  • Approximately 0.29 hectares (0.71 acres) with low site coverage of approximately 19%
  • Residential Potential (subject to consents)
  • Lot
    6
  • Auction
    13th July 2017
  • Rent
    £92,250 per Annum Exclusive
  • Status
    Sold
  • Price
    £880,000
  • 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 two modern and attractive office buildings adjacent to well established mixed use industrial and office park
  • Tenants include Vaillant Group UK Limited and Northern Powerhouse Developments Limited
  • Approximately 0.29 hectares (0.71 acres) with low site coverage of approximately 19%
  • Residential Potential (subject to consents)
  • Lot 6
  • Auction 13th July 2017
  • Rent
  • Status Sold
  • Price £880,000
  • 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. The property is situated on the north side of Elland Riorges Link, at its roundabout junction with Lowfields Way. This property is situated to the south of the mainline railway, which separates the site from the main business park. The neighbouring property uses are residential.

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. The property is situated on the north side of Elland Riorges Link, at its roundabout junction with Lowfields Way. This property is situated to the south of the mainline railway, which separates the site from the main business park. The neighbouring property uses are residential.

Tenure

Freehold.

Description

The property comprises a level and regular shaped site of approximately 0.29 hectares (0.71 acres) with a low site coverage of approximately 19% and upon which there are two modern and attractive two storey office buildings with surface car parking for 39 cars, with a good office to car parking ratio of 1:200. The property may benefit from longer term residential potential (subject to consents).

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 and regular shaped site of approximately 0.29 hectares (0.71 acres) with a low site coverage of approximately 19% and upon which there are two modern and attractive two storey office buildings with surface car parking for 39 cars, with a good office to car parking ratio of 1:200. The property may benefit from longer term residential potential (subject to consents).

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
D1 Ground
First
Office
Office
213.91 sq m
221.85 sq m
(2,303 sq ft)
(2,388 sq ft)
VAILLANT GROUP UK
LIMITED (1)
10 years from
29/09/2016 (2)
£55,000 28/09/2026
D2 Ground
First
Office
Office
143.75 sq m
146.47 sq m
(1,547 sq ft)
(1,576 sq ft )
NORTHERN
POWERHOUSE
DEVELOPMENTS LTD
5 years from
21/11/2016
£37,250 (3) 20/11/2021
Total  
725.98 sq m
(7,814 sq ft)
    £92,250  

(1) For the year ending 31st December 2015, Vaillant Group UK Limitied reported a turnover of £296,281,000, pre-tax profits of £12,017,000 and a total net worth of £51,101,000 (Source: www.riskdisk.com 08/06/2017).
(2) The lease provides for a tenant option to determine the lease on 28/09/2021.
(3) As to Unit D2, the lease provides for a rent free period until May 2018. The seller will pay the buyer the rent that would have been due in the absence of the rent free period. Therefore the property will effectively produce £37,250 per annum exclusive from completion of the sale. The seller is holding a £22,350 rent deposit.

Property Documents

  • Site Plan
    Updated Date
    01.11.19
    File Size
    841 KB
    View PDF
  • Catalogue Page
    Updated Date
    01.11.19
    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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