For Sale 41-47 New Street 1 Retail investment opportunity Huddersfi eld 1 Prime retail location HD1 2BQ 1 Close to Greggs, Costa Coffee, Marks & Spencer and Yorkshire Bank 1 Substantial town centre building 1 Let to The Works.co.uk and Peter Jones (China) Ltd. 1 May sell as 2 lots
walkersingleton.co.uk 01484 477600 L o c a t i o n The property has an extensive frontage to New Street in a prime shopping location in Huddersfield Town Centre. New Street is a busy pedestrian precinct with significant footfall and adjoining retailers include Greggs bakers with Yorkshire Bank opposite and Marks & Spencer and Costa Coffee close by. Huddersfield is a university town and a major retail centre within West Yorkshire, with a residential population of 162,000 (2011 census). The town has excellent motorway links lying 2 Miles South of the M62 (via Junction 24) and is 17 Miles South West of Leeds, 11 Miles South of Bradford and 26 Miles North of Manchester. D e s c r i p t i o n A substantial town centre building extending to 11,749 sq ft GIA (1,091.71m2) over 3 storeys and basement arranged as two shop units let to national retailer The Works.co.uk and Peter G Jones, the UK’s leading supplier of prestige branded gifts.
walkersingleton.co.uk 01484 477600 Accommodation Tenant Profiles
The total approximate net internal floor areas are: The Works.co.uk have 450 stores Nationwide specialising in the sale of books, arts & crafts, toys and home accessories. Established 10 41-43 New Street (The Works) years ago, the Company’s turnover is £166million with a net worth Ground Floor of £23million and a D&B Financial Strength Rating of 4A (minimum Retail 2,042 sq ft 189.86m2 risk). Peter Jones (China) Ltd. are the UK’s leading supplier of prestige branded gifts. They have been trading 40 years and with First Floor 10 stores throughout West Yorkshire have a tangible net worth Retail/Office/Stores 2,524 sq ft 234.66m2 of £1.075million and D&B Financial Strength of 1A (lower than Basement average risk). Storage 582 sq ft 54.10m2 Total Approximate NIA: 5,148 sq ft 478.62m2 Lease Details 45-47 New Street (Peter Jones) 41-43 New Street let to The Works Stores Ltd. (Company No. Ground Floor 09557400) on a 10 year effective full repairing and insuring lease Retail 2,609 sq ft 242.50m2 from 1 August 2016, expiring 31 July 2026 with tenant only break 1 August 2021. The rent is £50,000 per annum exclusive, with an Basement upward only rent review 1 August 2021. Retail/Office/Welfare 1,420 sq ft 132.00m2 45-47 New Street let to Peter Jones (China) Ltd. (Company No. 2 Total Approximate NIA: 4,029 sq ft 374.50m 00783518) under a 10 year internal repairing and insuring lease. All measurements have been taken compliant to the RICS code of measuring From 28 October 2009 expiring 27 October 2019. The rent is practice. These measurements have been taken in metric and converted to the nearest imperial equivalent. £40,000 per annum plus capped service charge of £2,500 per annum towards external and structural repairs.
walkersingleton.co.uk 01484 477600 Energy Performance Rateable Values 41-43 energy rating C (59) 41 New Street – Shop and Premises – Rateable Value: £60,000 45-47 energy rating C (73) 45 New Street – Shop Premises – Rateable Value: Tenure £59,500 Freehold. Further Information Price Steve Molloy Direct Line: 01484 477635 £1.175million to provide a purchaser a net initial yield Email: [email protected] of 7.23% after acquisition costs of 5.8%. Or NB The vendor would consider selling the two buildings individually. Tom Cullen Joint Agents – Colliers International Direct Line: 0113 200 1853 Email: [email protected]
Oak House, New North Road, Huddersfield, HD1 5LG walkersingleton.co.uk 01484 477600