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Great Northern Retail Park, Lees Road, Huddersfield HD1 6ND

Status: Sold

Date: 01 June, 2010

Type: Retail

Great Northern Retail Park, Lees Road, Huddersfield

  • Huddersfield is a major commercial centre in the county of West Yorkshire approximately 22 km (14 miles) west of Leeds, and 33.5 km (21 miles) east of Manchester, and is situated within the ‘M62 corridor’.
  • The town has a primary catchment of 295,000 persons and a retail catchment in excess of 424,000 people within a 20 minute drive time of the centre.
  • The scheme is situated in a highly prominent and accessible position fronting the A62, Leeds Road, one of the principle routes into the town centre from the north.
  • Modern, well laid out and configured retail park comprising 156,814 sq ft arranged as 10 retail units together with car parking for 760 cars (ratio 1:206 sq ft).
  • Open A1 non-food planning consent.
  • The scheme is anchored by Next, Mothercare, Boots, Sportsworld and a large Homebase with other retailers including, Pets at Home, Carpetright, JJB Sports and Holiday Hypermarket.
  • Freehold.
  • Fully let with an average weighted unexpired term in excess of 12 years.
  • Passing rent is £2,766,435 pa, including rental guarantee, which reflects a low average rent of only £18.15 per sq ft.
  • Offers are invited at a price in excess of £43.6 million (Forty Three Million Six Hundred Thousand Pounds), subject to contract and exclusive of VAT for the freehold interest. Assuming standard purchaser’s cost at 5.7625%, this reflects a net initial yield of 6.00%.