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Multi-Let Retail & Office For Sale In Huddersfield

New Street, Huddersfield HD1 2TW
For sale
£2,995,000 Offers In Excess Of

COMMON USE CLASS: A1 Shops, B1 Business

ivy-group
This property is marketed by:
Ivy Group

Multi Let Office & Retail Accommodation For Sale In Huddersfield. Prime Freehold Asset Management & Student Conversion Opportunity.

 

Investment Summary

  • Highly prominent location, in the heart of Huddersfield Town Centre.
  • 62.6% let to multiple tenants.
  • Net rental income of £370,492 per annum, from a range of retailers including Betfred, British Heart Foundation, CEX, The Eye Clinic and more.
  • Net ERV (Estimated Rental Value) £527,212 per annum.
  • Significant asset management opportunity to re-purpose the offices into high quality student accommodation.
  • Net ERV £723,405 per annum based on studio accommodation & retail option
  • 25,845 sq. ft flexible retail space
  • 14,043 sq.ft flexible office spaces measuring 103-2835 sq ft
  • Planning consent given to convert office space into 45 studio accommodation units minus cost of conversion
  • Freehold standalone block.
  • Strategically located with excellent transport links and easy access from the M62 and M1 Motorways.
  • Kirklees Council are currently undertaking significant regeneration to the town under its £250m Huddersfield Town Centre Masterplan.

Description - Ramsden House

Ramsden House Business Centre is a multi-occupancy business centre comprising ground floor retail space and 5 storey office spaces. Located in Huddersfield Town Centre with excellent transport links and access from the M62 and M1 Motorways. 12 retail properties occupy the ground floor with the 1st floor providing storage space for those stores. The property block is then divided into a variety of separate offices measuring 103 up to 2835 square feet. Each floor of the Business Centre features modern shared kitchens as well as bathroom facilities. The building also offers a modern entrance area with lockable postal holes and provides lift and stair access to all floors. The building has 24hr access technology installed, and key fob entry system. 

Situation

Ramsden House is prominently located within Huddersfield town centre bounded by New Street, Ramsden Street and Corporation Street, being adjacent to the Town Hall, Library and Art Gallery and the town’s main shopping district. The main bus station is situated only a few minutes’ walk away and various car parks are available in the immediate vicinity. The campus of University of Huddersfield is located 0.2 miles to the east and is easily accessible on foot. Huddersfield Railway Station is located approximately 0.4 mile (7 minute walk) to the north of the property, which forms one of the most used stations within the Trans Pennine rail network. It provides direct services to Manchester and Liverpool with a fastest journey time of approximately 35 minutes and 1 hour 5 minutes respectively.

Location

Huddersfield is the principal town in the Kirklees district of West Yorkshire and is located approximately 16 miles south west of Leeds and 28 miles north east of Manchester. The town is strategically located to connect to the national motorway network, with direct access to Junctions 23, 24 and 25 of the M62. This is the major east to west route in the north of England and interchange for connections with the M6, M1, A1 (M) and M18. Proximity to the M62 also provides excellent access to the Ports of Liverpool and Kingston Upon Hull.

Specification

The overall area of each floor outlined below. Lettable Sq. Ft sizes can be found on the tenancy schedule. The total space of this property is 39,888 square foot and is distributed across the building as shown below.

Planning

The property is not Grade II listed and not located and not located within a conservation area. Ramsden House benefits from planning consent to convert the office block into 45 residential studios. All planning documentation is available on request. For further information please contact Kirklees Council Planning Department on 01484 221 000.

Redevelopment Opportunity

Ramsden House benefits from planning consent to convert the office block into 45 residential studios. Planning consent was granted on 22nd January 2021 under reference 2019/62/92983/W for Change of use and alterations to offices (class B1) to form 45 studio apartments for students (sui generis use) and change of use of ground and first floor units to gym (class D2), flexible A1/A3/A5 use and ancillary student facilities along with associated external alterations and installation of roof top plant. 

Proposed Accommodation Breakdown: 

All the planning documentation is Available on request. For further information please contact; Kirklees Council’s Planning Department 01484 221000. 

The Huddersfield Blueprint

Kirklees Council announced the Huddersfield Blueprint in 2019. The £250m regeneration project is a 10 year plan aimed at creating at thriving, modern-day town centre. The Blueprint was made a Supplementary Planning document in May 2020. 

Regeneration

The Blueprint focuses on regenerating six key areas, including a new Cultural Heart in the Queensgate and Piazza district, that neighbours Ramsden House. The plans will transform the immediate vicinity and the new cultural development will include a new library, art gallery, museum and live music venue. The plans also propose removing some of the Piazza shopping centre, recently bought by the council, to create a large open space. The other key areas that will benefit are; Station Gateway, St Peter’s, Kingsgate and King Street, New Street and The Civic Quarter. 

Plans Underway

The Blueprint plans are now in motion with the redevelopment of the former Co Op building on New Street which has been funded in partnership with Kirklees council and the Property Investment Fund. The nature of the PIF means that the council can fund priority capital schemes that meet wider strategic regeneration benefits. 

Ramsden House

The property presents an opportunity to capitalise on a freehold asset management and redevelopment play that will benefit directly from the ongoing regeneration of the New Street, Queensgate and Piazza districts. The Blueprint initiative will support investment and long-term growth, attracting people and business to the town centre, which will in turn add value to key strategic sites such as Ramsden House. 

Further Information

Tenure - Freehold

EPC - Energy Performance Certificates are available on request. Please refer to the tenancy schedule for individual designations. 

Rateable Values - Rateable values available on request for individual properties. 

VAT - Will be applicable on the purchase price. 

SPV - This property is an asset within a new SPV vehicle. The SPV is newly formed and has no liabilities attached and is entitled to paying a lower rate of stamp duty on the purchase.

Viewings -Ivy Group will provide the opportunity to formally inspect the site.

 


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