the north east |
KIRKLEES REGION UPDATE A
by Jonathan Wilson
B.Sc (Hons), MRICS Head of Commercial Agency Bramleys
s we near the end of quarter 2, 2018 we can reflect on what has been another
action packed year within the commercial property market throughout Huddersfield and the wider Kirklees region. Positivity was brought to the town through the football team’s presence in the Premier League and following their success in securing a second season in the world’s elite league this is expected to continue. This has enhanced the profile of the town on the world stage and presents continued revenue increasing opportunities to businesses in the area through increased visitors on Match Days as well as a generally enhanced profile of the area.
It is the industrial sector which has
taken most of the attention over the last year with strong activity in both the leasehold and freehold sectors. Progress has been made in plugging the gap in the towns offering of larger scale modern industrial premises with units completed and now occupied at Summit 24, Lindley Moor which has provided design and build opportunities for units of 20-100,000 ft². The town would benefit from more developments of this nature to meet demand amongst manufacturers and
distributors alike, allowing a greater number of occupiers to take advantage of Huddersfield’s strategic position between Leeds and Manchester and connectivity via the M62 and M1 motorway networks. Bramleys have been active in securing lettings on behalf of a range of Landlords across the town, most notably at Shaw Business Park, Wakefield Road where lettings on a range of units totalling 40,000ft have been agreed, including Units 7 & 8 (featured below) to allow the expansion of a local engineering business. Elsewhere the letting of 14,000ft trade counter premises along Leeds Road has been secured to Clifton Bathrooms and terms are agreed on 10,000ft along St Andrews Road for leisure purposes. There remains strong appetite to buy industrial premises for both owner occupation and investment and Bramleys have agreed sale on Bridge Croft Mills, Milnsbridge (featured below) to two separate buyers. Circa 20,000ft² of these premises were sold to a manufacturer who has migrated over the Pennines from Oldham. Such transactions have helped values to continue to increase, particularly for modern stock.
Whilst the seemingly never ending stories of failing large retailers are of concern, this does not appear to be deterring investors in acquiring town centre investment assets. Bramleys are acting in the letting of the old Newcastle Building Society premises in Victoria Lane, acquired by private investors based out of London and a range of town centre investment properties have sold through national auction houses.
It is also worth noting that Bramleys jointly advised the seller of a significant town centre asset to a retailer of international renown. The property offered long term secure income and the sale represented a yield of circa 5.25% net of purchaser’s costs.
Appetite for smaller income producing investments also remains healthy in good suburban parades with recent transactions being completed at yields between 6.5% and 9% depending on location and tenant covenant strength.
With a wealth of experience in dealing with all asset classes within the property sector in Huddersfield and across Yorkshire Bramleys are well positioned to provide bespoke advice to a range of client types.
Industrial & Commercial Property Consultants
7 & 8 SHAW PARK IND ESTATE, SILVER STREET, HUDDERSFIELD HD5 9AF
HUGH HOUSE, FOUNDRY STREET, BRIGHOUSE HD6 1LT
TO LET
11–13 DENARD INDUSTRIAL ESTATE, MILNSBRIDGE, HUDDERSFIELD HD3 4NB
TO LET
INDUSTRIAL COMPLEX, TANYARD RD, MILNSBRIDGE, HUDDERSFIELD HD3 4NB
LET AGREED
MODERN SINGLE STOREY INDUSTRIAL PROPERTY WITH GOOD OFFICE CONTENT
• 1,201.79m² (12,936ft²)
• Good quality with modern specifi cation offi ces
• Situated within 1 mile of Huddersfi eld town centre
• EPC Asset Rating B
SINGLE STOREY INDUSTRIAL UNIT WITH GOOD OFFICE CONTENT
• 662m² (7,126ft²)
• 3 Phase electricity & 2 Loading doors
• Accessible location on the edge of Brighouse town centre close to Junctions 24 & 25 of the M62
• EPC Asset Rating D BRAND NEW INDUSTRIAL UNITS
• 73.90m² (795ft²) • Steel portal frame construction clad in stone and profi le steel insulated cladding
• Located in the recognised industrial area of Milnsbridge 3 miles to Huddersfi eld town centre
• The units have the benefi t of a drive-in loading door 4m × 3m
• EPC Asset Rating C 14 St. George’s Square, Huddersfi eld HD1 1JF
01484 530361
commercial@bramleys1.co.uk bramleys.com/commercial
COMMERCIAL PROPERTY MONTHLY 2018
PART SOLD WITH SALE AGREED ON REMAINDER
INDUSTRIAL COMPLEX WITH YARD
• Complex of single storey industrial buildings 3,467m² (37,313ft²)
• PLUS 4 storey mill building 1,327m² (14,280ft²)
• Partially vacant income generated from Mill
• Positioned in a popular industrial location within 3 miles of Huddersfi eld town centre.
Offi ces also at Mirfi eld, Heckmondwike, Elland and Halifax
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