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Professional Surveyors and Property Agents based in Leeds

BHT News

Investment Sale - Carolgate House, Retford

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On behalf of Fairfax Securities Ltd we have sold the above retail investment to Goldleaf Property Investments. The property, which is let to Card Factory and Crawshaws Butchers at ground floor, with the upper floors let to a local dance school, was producing an income of £69,000 pax. A price of £770,000 equating to 8.5% was achieved.

Investment Sales - Blackpool & Doncaster

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Acting jointly with Allsops LLP, on behalf of a private client, we have sold the above two retail investments. 49 Market Place, Doncaster let to Ladbrokes Betting & Gaming Ltd at a rent of £45,000 pax was sold for a price of £500,000 equating to 8.6%. 17 Birley Street, Blackpool let to Toni & Guy (North) Ltd at a rent of £25,000 pax was sold for a price of £230,000 equating to 10.6%.

Office Sale - 4 Clayton Wood Court, LS16 6QW

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On behalf of retained clients, Rawdon Optical, we have sold the freehold detached office building extending to 3,950 sq.ft. together with on-site parking at a price of £340,000. The purchaser, a local construction company, intend to refurbish the building, occupy part and let the remaining space

Investment Acquisition - 6/8 High Street, Stokesley

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Acting jointly, Brackenridge Hanson Tate and Naylors have acquired the above freehold retail investment for Dalehead Properties Ltd. Stokesley is a prosperous North Yorkshire market town. The property is let to Heriot Hospice Homecare at a rent of £25,000 pax and is well located in the town adjacent to Boots. A price of £320,000 was paid, reflecting a net initial yield of 7%.

Industrial Letting - Manchester

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Acting on behalf of a retained private family trust, we have successfully let Unit 4, Orbital Way, Denton, Manchester to Abpac Ltd on a new 5 year lease at £60,000 pax (£6.08 psf). The property is a well specified, modern industrial unit located within of a mile of J24 of the M60. Abpac Ltd intend to establish their northern hub within the unit as part of their expansion from the South West.

Retail Redevelopment - Ilkley

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On behalf of ATC Properties we have acquired 5/7 Brook Street, previously occupied by Yorkshire Bank, with vacant possession. Planning permission has just been granted for the extension of the ground floor to provide 2 ground floor retail units with residential accommodation above.

Prime Shop Let - Dorchester, Dorset

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On behalf of private clients, we have successfully completed a letting to JoJo Maman Bebe Ltd of this prime shop on the pedestrianised area of this affluent market town. There were a number of interested parties and we were able to agree a rent in excess of £50,000 pax on an unbroken 10 year term.

Prime Shop Let - Doncaster

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On behalf of Woodhead Investment & Development Services Ltd, we successfully let the ground floor of this substantial retail property to the national hearing aid retailer, Amplifon Ltd. The shop has a prime location on St Sepulchre Gate opposite the Frenchgate Centre. A rent in excess of £38,000 was achieved.

Prime Shop Let - Ilkley

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On behalf of private investor clients, we advised on the combination of two retail units on The Grove and agreed a pre-let to Fat Face, who have relocated in the town.

Prominent Shop Let - 19 Kirkgate, Leeds

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On behalf of Woodhead Investment & Development Services Ltd, we successfully let the above property, being on the busy cut-through between the prime area of Leeds, Kirkgate Market and Victoria Gate development. The tenant, Cash Converters, are paying a rent in the region of £70,000 for a term of 5 years.

Prime Shop - Ilkley

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We successfully let this prime shop on The Grove to Paperchase who have completed an excellent shopfit and report excellent trading. There was good interest in the shop and a rent in excess of £60,000 pax was achieved for an unbroken lease of 10 years.

Prime Shop Let - Sherborne, Dorset

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On behalf of retained private clients we have successfully let a shop to Mountain Warehouse at a rental of £50,000 pax for a term of 10 years without a break. The property was not formally marketed but individual multiple retailers targeted and this resulted in best offers from 3 parties. Another success in this picturesque Dorset town.

Investment Acquisition - Buttermarket St, Warrington

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On behalf of clients we have acquired the above retail investment. The property occupies a prominent location in Warrington Town Centre, directly opposite an entrance to the proposed Bridge Street Quarter development, a joint venture between Muse Development and Warrington Council with a value of £107 million. The property comprises 3 shop units let to Heron Frozen Foods, Waterfields (Leigh) Ltd and Salvation Army Trading Co producing a rental income of £88,700 pax. A price of £900,000 was paid for the investment reflecting a net initial yield of 9.3%.

Convenience Store Investment Acquisition

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On behalf of The Trustees of Radcliffe Pension Fund, we have acquired a Co-operative Convenience Store, The Green, Tenby, SA70 8EU. The property, which was formerly a Royal Mail Sorting Office, has recently been refurbished and let on a new 15 year lease to the Co-op Food Group Ltd at a rent of £62,000 pax, subject to five yearly indexed linked rent reviews. A price of £1,030,000 was paid reflecting a net initial yield of 5.7%.

Industrial Letting Skipton

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On behalf of John Binns & Sons Ltd, we let the Steel, Barrett and Pennine Buildings on Airedale Business Park in Skipton to Airedale Solution Ltd, on 3 separate leases, at a combined rental of £83,345 pax on identical lease terms being 7.5 years with a rent review at the end of the 4th year. The buildings are modern steel portal frame warehouses providing a total GIA of 17,069 sq.ft.

Retail Investment Acquisition - Hexham

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On behalf of an offshore private investor, we have acquired the retail investment at 16/20 Fore Street, Hexham from the Administrator. A price of £1,010,000 was paid reflecting a net initial yield of 5.9%. The property is an attractive Grade II Listed building occupying a prime position on Fore Street offering ground floor sales of approximately 303 sq.m. (3,259 sq.ft). It is let in its entirety to White Stuff Ltd on a 10 year FRI lease from September 2015 at a current rent of £63,000 pax subject to an upward only review in September 2020 and a tenants only break clause in September 2021.

Leisure Investment Acquisition - Walsall

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On behalf of a private investor we have purchased the above retail/leisure investment producing an income of £190,500 pax. The property occupies a central location within the leisure circuit in Walsall and the principal tenants are Yates (Hops Pub Co Ltd) and Whitbread plc. The property was purchased from the Receiver at a price of £1,675,000 reflecting a net initial yield of 10.75%. Since acquisition, we have re-geared and extended the lease to Yates. We have taken a surrender of the lease to Whitbread and are now offering this part of the property for sale/to let.

Retail Investment Sold - Albion Square, Skipton

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On behalf of private clients we have sold this attractive retail investment let to Bizzie Lizzies Restaurant and Dalesway News with a total income in the region of £46,000 pax. There was good interest in the investment and a price reflecting a net initial yield of 5.8% was achieved.

Investment Sale - Town Street, Horsforth

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Acting jointly with Smith & Company, on behalf of Jack Lunn Properties, we have sold two retail properties to Westcourt Properties Ltd. 14 Town Street is let to Cancer Research at £19,750 pax and 68/72 Town Street is let to Barclays Bank and Thomas Cook at a combined rent of £51,300 pax. A total price of £965,000 was paid, reflecting a net initial yield of 6.96%.

Sale of Land - 48/50 High Street, Skipton

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On behalf of The Trustees of Weston Pension Fund, we identified surplus land to the rear of their retail holding on Skipton High Street let to Tog 24. We advised on the possibility of obtaining residential consent of this site and appointed Halliday Clark Architects to seek a residential consent. We negotiated with the local planning department and obtained planning consent for a modern 3 bed dwelling overlooking the canal. Once consent was obtained we marketed the site jointly with Dacre Son & Hartley and agreed a sale to a private individual for self-build. Our clients are delighted with the result which is a windfall capital receipt. Another example of BHT adding value.

1 Blenheim Court, Leeds - Sale

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On behalf of the Black Family Trust we have sold the above office property for in excess of £750,000. The property, which comprises 5,625 sq.ft. with 14 parking spaces, is situated on the edge of Leeds City Centre close to Leeds University. The purchasers, Harrisons Developments, have acquired the property with a view to medium term redevelopment.

Shop Letting - Sherborne, Dorset

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We dont only deal with properties in Yorkshire but nationally having recently completed a letting of a prime shop in Sherborne to the quality multiple retailer, Crew Clothing Company. There was competition for the shop with the rent finally achieved well above asking!

Investment Sold - 17/21 Market Place, Sheffield

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Acting jointly with Lane Walker we have sold the above retail investment. The property, which is located in an extremely prominent City Centre location, comprises 3 ground floor shop units let to Greggs plc, Card Zone and Bet Extra producing an income of £84,300 pax. The vendors, Hartshead Developments, are currently developing the upper floors into residential apartments. The property was sold to a private investor in Manchester for £885,000 reflecting a net initial yield of 9%.

Prime Shop Let Louth

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On behalf of private clients we have let 25 Market Place extending to 964 sq.ft. at ground floor and 460 sq.ft. at first floor to Lincolnshire Co-operative Ltd to trade as a travel agency. The lease is for 10 years subject to a rent review and a break at the end of the 5th year at a rental of £19,000 pax.

Leeds Warehouse Let

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On behalf of Rawdon Optical, we have successful sub-let a warehouse on Low Lane in Horsforth extending to 2,500 sq.ft. at a passing rent of £14,500 pax to the expanding business, Ignite Gascare Ltd.

31 Station Road, Ashington Retail Letting

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Acting jointly with @Retail, we have successfully negotiated the letting of this prime shop to CEX Franchising Ltd at a rental in the region of £20,000 pax for a term of 10 years subject to a tenant only break at the end of the 5th year. Cameron Trafford, Birmingham acted on behalf of the tenant.

RETAIL INVESTMENT ACQUIRED ILKLEY

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On behalf of ATC Properties Ltd, we acquired a prominent parade of shops including 4 retail units let to both national and local retailers. Ilkley continues to be popular with investors as the demand for units from multiple retailers continues to be strong.

SHIPLEY PUB LETTING

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Acting jointly with Banks Long, Lincoln (a fellow PAI agent), we have recently completed a letting of The Hockney in Shipley to a local multiple operator. A rent in the region of £40,000 pax was achieved for a lease of 5 years.

Guiseley Investment Sold

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On behalf of Pension Fund clients we have sold 32 Otley Road, Guiseley, a small retail investment, at a price in the region of £190,000. The property is let to Dacre Son & Hartley for a term of years expiring March 2020 at a rent of £14,500 pax.

Keighley Investment Sold

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On behalf of Pension Fund clients we have sold 75 North Street, Keighley, a small retail investment, at a price in the region of £100,000. The property is let to Dacre Son & Hartley for a term of years expiring November 2026 at a rent of £8,000 pax.

Prime Retail Shop Let - Hexham

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On behalf of the Skipton Building Society we have secured a letting of a prime shop on Fore Street to the multiple travel agent, Hays Travel. The shop has a ground floor sales area of 1,000 sq.ft. and a rent was achieved in the region of £27,000 pax.

Ripon Investment Sold

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On behalf of Pension Fund clients, we have sold 10 Queen Street, Ripon, a small retail investment, at a price in the region of £200,000. The property is let to Dacre Son & Hartley for a term of years expiring January 2020 at a rental of £13,000 pax. The purchaser was advised by Montpellier Property Consultants, Harrogate.

Worksop Prime Shop Letting

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On behalf of a London based property company we have successfully let the former Thomas Cook unit to CEX, the expanding electronics retailer. The rent achieved was in the region of £25,000 pax for a lease for a term of 10 years subject to a tenant only break at the end of the 5th year. Cameron Trafford, Birmingham acted for the tenants.

William Hill Move into Louth

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On behalf of a small property company, we have successfully completed a letting of 58 Eastgate, a prime shop in this Lincolnshire market town to William Hill. The shop forms part of a small parade with the other occupiers being Age UK and Co-op Pharmacy.

Investment Acquisitions Carmarthen & Berwick

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Acting jointly with Mike Smith& Company, we have acquired Unit 1 Parc Pensarn, Stephens Way, Carmarthen and 52 Northumberland Road, Berwick upon Tweed on behalf of Jack Lunn Properties at a price of £2.1 million reflecting a net initial yield of 7.36%. The properties were acquired on a sale and leaseback from Farm Foods Ltd who took new 20 year leases, paying a combined rental of £165,000 pax with the first rent reviews being geared to OMV or 2.5 per annum compound, whichever is the higher. Carl Wright of Jack Lunn Properties said the acquisition of these properties fitted perfectly with the current investment strategy to acquire two new retail stores let to a 5A1 covenant at an attractive yield.

Sale of St. Martins House, Leeds City Centre

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Acting jointly with Alder King, Bristol, we have sold the above office building to Wilton Developments Ltd. The property, which was built in the late 1970s comprises approximately 18,000 sq.ft. of office accommodation over 5 floors with basement car parking for 12 vehicles. It is let in it entirety to Lyons Davidson Solicitors at a current rent of £300,000 pax on FRI terms with the lease expiring in October 2029. The investment was sold for £3.3 million reflecting a net initial yield of 8.59%. GVA acted for Wilton Developments.

Investment Acquisition - Benson Road, Poole

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Acting jointly with London & Clancy, a fellow PAI member, we have acquired the above freehold industrial investment for Ankers & Rawlings Developments Ltd. The property comprises a modern warehouse of 2,443 sq.m. (226,293 sq.ft.) on a 1.53 acre site and is prominently situated on the Nuffield Industrial Estate. The property benefits form a short term income stream from Palmer & Harvey and a sub-tenant, Hansatech but it is the clients intention to under a refurbishment of the property and re-let. Mason Philips acted for the vendors, Ashbourne Cedar Property Ltd.

Prime Retail Investment Sold

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On behalf of London based Trust clients, we have successfully sold 40/48 Great Darkgate Street, Aberystwyth. The property is let to Edinburgh Woollen Mill for a term expiring 2018 at a rental of £75,000 pax. The purchasers were advised by JLLs Bristol Office.

Sold - 10/12 The Headrow, Leeds

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On behalf of Pickards (Leeds) Ltd we sold the above investment to a private investor for his SIPP. The property, which comprises a ground floor shop unit with upper floors sold off long leasehold for residential, is let to a private individual t/a Paw Prints on a 5 year lease from May 2013 at an initial rent of £42,000 pax rising in May 2015 to £44,000 pax. The investment was sold for £499,000 reflecting a net initial yield of 8.42%.

North Leeds Office Building Sold

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On behalf of corporate clients, we have successfully concluded the sale of a detached office building at Clayton Wood Court, adjoining the Ring Road to the north of the City. The modern accommodation is split into two semi-detached buildings with the purchasers, a group of wealth managers, intending to refurbish the whole property, occupy half and let the remainder.

Prominent Harrogate Letting

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On behalf of private clients we have successfully concluded the letting of a substantial Victorian retail property to the successful Carluccios restaurant chain. The letting wasnt without difficulty as change of use planning permission was refused by the Local Authority but was won at appeal and the restaurant has been a great success since its opening, being in the top 10 throughout the country.

New Convenience Store Burley in Wharfedale

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We have recently completed the letting of a former carpet showroom to the Co-op as a convenience store. The property fronts the main street within a Conservation Area and extends to approximately 3,000 sq.ft. with 7 car parking spaces.

Retail Unit Let - 17 Grove Promenade, Ilkley

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On behalf of private clients we have let this prominently located shop to Georgia Antonia Ltd t/a Zinc Ladieswear without placing it on the market. The retailer has other shops throughout the North of England and sees Ilkley as an extension of his quality fashion business. The retail market in Ilkley remains very buoyant.

Retail Investment Sold - 30 Brook Street, Ilkley

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On behalf of private clients we sold the above property, let to Linley & Simpson Estate Agents, to a local private pension fund at a net yield in the region of 7%. There was a good demand from local investors.

Substantial Vacant Freehold Shop Acquired - Barnard Castle

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On behalf of retained private clients we have acquired 18-18a Horsemarket which was formerly occupied by Co-op Bank with vacant upper floor offices. A full refurbishment of the accommodation will be carried out with a separate letting of the ground floor shop and self-contained upper parts.

Prime Industrial Unit Sold - Roundwood Industrial Estate

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On behalf of our private client, we recently completed the sale of a substantial industrial unit. The unit sits on a prominent site just off Junction 40 of the M1. There was a good demand for the property and a sale was agreed at £450,000.

Prime Shop Let - 48-50 High Street, Skipton

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On behalf of private Trust Clients we have let a prime shop in this popular market town, known as the gateway to the Dales. The tenant, Tog 24, have relocated from elsewhere in the town to expand their retail offer with a modern upmarket shopfit

Letting - 8 Woodhouse Square, Leeds

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We are delighted to have successfully completed the letting of 8 Woodhouse Square to Candlelighters, on behalf of West Yorkshire Society of Architects. The beautiful Grade II listed building will be used as a charity fundraising centre, alongside a drop-in and rehabilitation centre for children suffering with cancer.

Retail Letting - 1 Keighley Road, Skipton

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We have successfully completed the letting of the above shop to Card Factory on behalf of a private property company. The shop forms part of a larger parade, being a redevelopment of a former Burtons building. Skipton continues to be popular with both national and local retailers.

Investment Sold - 9-10 Middlegate, Penrith

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On behalf of a charitable trust, we have successfully sold this substantial retail property, let to B&M Stores at a rental of £75,500 pax, at a price showing a purchaser a net initial yield in the region of 7.8%.

Landmark Building Sold - 1 Station Road, Otley

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On behalf of a private property company, we have successfully sold this iconic town centre office building that has been in the occupation of Dacre Son & Hartley since its construction in the 1930s. There was good demand from local businesses and a price well in excess of the asking figure of £350,000 was achieved.

Freehold Sold - 6 Henshaw Street, Oldham

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On behalf of retained clients, we have successfully completed the sale of the above mentioned substantial town centre freehold retail property at a price in the region of £200,000. There was good demand and a sale was agreed within 1 week of it being placed on the market.

Lease Renewal Agreed - 10 Fishergate, Ripon

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On behalf of Beadnall Copley we have negotiated a lease renewal of their branch in Ripon, obtaining a substantial reduction in the passing rent.

Investment Sold - 6/7 High Street, Ludlow

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On behalf of private clients we have recently completed a sale of this attractive property in this popular market town which is let to Vision express for a term of 10 years at a passing rent of £21,000 pax. A price in excess of £330,000 was achieved.

Investment Sold - 26 Market Place, Falmouth

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We have successfully completed the sale of the above investment let to Thorntons plc at a passing rent of £22,000 pax on behalf of private clients at a price in excess of £255,000.

Lease Re-Gear - 16 Penny Street, Lancaster

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On behalf of the Trustees, we have agreed a re-gear with C&J Clark on the above property. The lease was due to expire in November 2014 but we negotiated a new 10 year lease at the passing rent of £78,450 pax in return for a 12 month rent free period. For the Trustees this represented an excellent opportunity to secure the income stream and hence capital value.

Newly Refurbished Office - 21 The Grove

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On behalf of our client Halliday Clark Architects, BHT and Dale Eddison have recently completed the letting of the above property. The office has recently been fully refurbished to the highest standards and provides unique accommodation in the very popular market town of Ilkley.

Freehold Sale - 1 Providence Place, Skipton

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On behalf of Skipton Building Society, we sold their former headquarter's office building and the adjacent house and adjoining car park to Candelisa, a niche property developers from Ilkley.

Helping Carluccio's to find Premises in Harrogate

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Planning applications can sometimes be declined simply because the authority believes there is insufficient evidence to show that a new business will be of benefit to its prospective neighbours. That can be very disappointing, but when an initial application was declined Carluccio's managers decided that the best approach was simply to showcase their up-market foods and delicatessen offer to the people of Harrogate. BHT was happy to help arrange for that to happen, providing professional advice and then going along to show support in person on the day.

46 Toll Gavel, Beverley

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The historic town of Beverley continues to buck the trend with a strong retail market with the recent letting of the former Stead & Simpson at 46 Toll Gavel to the specialist shoe retailers, Hotter Shoes. The private Landlord was represented by ourselves and Hotter Comfort Shoes by Savills, London.

Investment Sale - 13 Market Place, Ripon

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On behalf of Brian Pickard, we have sold the above prime retail investment for £654,000 equating to a net initial yield of 6.75%. The property is let to WH Smiths Retail Holdings Ltd on a 10 year FRI lease from 24th June 2012 at a current rent of £46,700 pax, subject to an upward only rent review at the end of the 5th year. The transactions was completed within 4 weeks of solicitors being instructed and Mr Pickard commented that the speed of the transaction demonstrated the efficiency and commitment of BHT. The purchaser is a private investor represented by Heaney Micklethwaite.

Retail Parade Acquired - 7/17 Aughton St, Ormskirk

On behalf of private clients, acting jointly with James Buchanan & Associates, we have acquired the above retail parade for £1 million. The parade comprises 5 shop units let to tenants including Coral, Dominos Pizza, Tui and the Salvation Army. At the time of purchase the total rental income was £128,650 pax with some upper floor vacant residential accommodation. The property showed a net initial yield of 12.16%.

Prime Retail investment Sold - 27 Toll Gavel, Beverley

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Acting on behalf of a private client, we sold the above retail investment to Longreach Commercial Property Investors Ltd for a price of £795,000 reflecting a net initial yield of 7.07%. The property occupies a prime location in Beverley and is let to AG Retail Cards Ltd t/a Clinton Cards for a term of 5 years from 23rd February 2012 at £59,500 pax.

New Lease agreed for Shop on Leeds Headrow

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BHT has negotiated the letting of 10/12 The Headrow, Leeds to Paw Prints, a Halifax based pet shop. This provides one of the only pet shop outlets in Leeds City Centre. The shop has a prominent position directly adjoining Primark, close to the pedestrianised centre of the City. A rent in excess of £40,000 pax was negotiated for the shop, which extends to 1,340 sq.ft. with offices and has stores of 1,200 sq.ft .

Rental Income Maintained in Harrogate

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We have successfully completed the letting of 6a Albert Street, Harrogate to Manning Stainton Estate Agents, who are shortly to commence a full refurbishment which will provide an office with an upmarket modern image to service the prosperous Harrogate catchment area. Robin Hanson negotiated the lease directly with the directors of Manning Stainton, maintaining the rental income for the block of property we now manage.

Units A & B, Keighley Industrial Park, Keighley

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On behalf of the Black Family Trust, we have sold the above industrial investment for £600,000 equating to a net initial yield of 8.64%. The property, which occupies a prime industrial location in Keighley, forms a modern pair of semi-detached units totalling 1,074 sq.m. (12,613 sq.ft) on a site of 0.74 acres. Unit A is let for a term of 25 year lease from 15th October 1993, expiring 14th November 2018 to John Menzies Distribution Ltd at a current rent of £26,200 pax (£4.74 psf). Menzies have sub-let their interest to Service Power Ltd. Unit B is let for a term of 25 years lease from 29th September 1993, expiring 28th September 2018 to Edmondson Electrical Ltd at a current rent of £28,600 pax (£4.75 psf). The total rental income is therefore £54,800 pax. The purchaser is a private investor, who was unrepresented.

10 year Deal for Costa Coffee in Ripon

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BHT announces a letting of 4, Fishergate Ripon to Costa Coffee for a lease for a term of 10 years without break, at a rent in excess of £40,000 pax. This is a well located shop, just off the Market Place, with ground floor sales of 2,000 sq.ft. and staff accommodation to the first and second floors. The deal was agreed with Costa, subject to planning permission change of use to A3 in competition with another multiple retailer.

Retail Investment Acquired - 5/5a High Street, Redcar

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On behalf of Valerunner Ltd we have acquired the above investment for £420,000 which shows a net initial yield of 14.13%. The property occupies a prominent corner location on High Street. The ground floor is let to Natwest Bank plc and the upper floor to a charity, Coatham House Ltd. The total rental income is £63,00 pax.

Prime Barnard Castle Retail Investment Sold

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BHT have successfully negotiated the sale of a prime retail property in the popular historic market town of Barnard Castle. The property is let to Finlays (North East) Ltd at a rental of £22,500 pax. On behalf of a private property company, BHT have secured a sale to a local, and also private, investor.

BHT Appointed as Agents for Superb Period Office Building

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With an informed and seasoned knowledge of the property market in northern cities, Brackenridge Hanson Tate was the go-to option for the marketing of this centrally-situated, and spacious, Leeds office property. There will always be a market for properties such as this and plenty of prospective tenants, but our clients can rely on BHT to work for the truly optimum match that secures best value for both client and occupier.

Offices with Workshop Now on Market with BHT

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An uncommon combination of substantial modern office accommodation with a smaller workshop and loading facility is now available to purchase, or possibly to rent, in Morley. The property has both open-plan and cellular offices, which could prove ideal for a range of buyers or prospective tenants - especially those who have found it difficult to secure a property offering a comparatively small area of workshop associated with good office space.