The Fieldhead Development comprises three elements. At the front of the site is a very popular retail parade, which includes a small supermarket, Greggs, Subway and a number of local retailers together with ancillary car parking. To the rear of the site lies Fieldhead Industrial Park, which comprises modern B1, B2 and B8 industrial space providing a total of twenty one industrial units accessed from Preston Street. Finally, Fieldhead Business Centre lies between the retail and industrial elements and provides a total of twenty five individual office units; twenty of which are in “pavilions” of four units, two buildings with two units each and a single stand alone office unit. A number of these units have been combined to provide larger space and three of the pavilions are now fully occupied as single occupier buildings. Two of these building have been sold on a long leasehold basis at a premium to the investment value. There is substantial car parking surrounding each unit for the benefit of the individual occupiers. The break up of Fieldhead and sale of the three elements separately has been investigated and further information is available upon request.
Location
The City of Bradford has a local population in the order of 290,000, and is well situated within the central core of the West Yorkshire conurbation being approximately 9 miles West of Leeds and 11 miles North East of Huddersfield. The City has good road communications with a number of major roads connecting it to the surrounding towns, including Shipley, Bingley and Brighouse. The City also has its own motorway spur (M606) which connects with the M62 Motorway, approximately 4 miles South of the City Centre, thus providing convenient access to other parts of the region. The City also enjoys not only excellent access to the National Railway Motorway Network, but also, a direct high speed rail connection to London Kings Cross as well as regular local Intercity train services to Leeds, the Wharf Valley, Aire Valley and beyond. Bradford has two railway stations at Forster Square and Bradford Interchange within the City Centre and provides direct services to the following UK cities in the approximate journey time stated:
• London (Kings Cross) 170 Minutes
• Manchester 65 Minutes
• Leeds 20 Minutes
• York 62 Minutes
• Skipton 39 Minutes
Leeds Bradford Airport is approximately 30 minutes drive from the City. Manchester, East Midlands and Doncaster Airports are all within approximately 1½ hours drive and each provide a range of domestic, European and international services. Bradford has traditionally relied upon the woollen/textile industry as its main source of employment and in more recent years the industrial base has become more diverse and the city now supports a number of major organisations including Otto/Grattan Plc, Santander, Yorkshire Building Society, Yorkshire Water and Wm Morrison Supermarkets Plc.
Fieldhead is located approximately 0.6 miles West of Bradford City Centre, with access from Listerhills Road/ Legrams Lane, which links into Thornton Road (B6145) approximately 400 yards to the North and is approximately ½ mile due West of Bradford’s Inner Ring Road (A6181). The property has good communications by road to the City Centre and, is approximately 2 miles North of the M606 junction with Bradford’s Outer Ring Road (A6177) at Staygate. This provides excellent communications throughout the motorway network generally. The property is located within an established commercial area, which includes Listerhills Park of Science & Technology, substantial warehousing premises occupied by Otto/Grattan Plc and the proposed development on Legrams Lane by Mumtaz for their new food production facility. The business centre is also close to the “learning quarter” with both Bradford University and Bradford College situated within 400 to 500 yards of the property, as is the new Sustainable Student Village. Other nearby commercial occupiers include Bombay Stores, Booker Cash & Carry and the British Telecom depot.
Accommodation
In 2008 planning was granted for eight three bedroom apartments and four retail units on a proportion of the retail car park; this consent was renewed in 2011. Further information is available on request.
Industrial (Great Russell Court):
Unit 1: 1,202 sq ft (111.64 sq m)
Unit 2: 2,145 sq ft (199.30 sq m)
Unit 3: 1,202 sq ft (111.64 sq m)
Unit 4: 2,145 sq ft (199.30 sq m)
Unit 5: 1,202 sq ft (111.64 sq m)
Unit 6: 2,145 sq ft (199.30 sq m)
Unit 7: 1,202 sq ft (111.64 sq m)
Unit 8: 2,145 sq ft (199.30 sq m)
Unit 9: 1,202 sq ft (111.64 sq m)
Unit 10: 3,217 sq ft (298.85 sq m)
Units 11/13: 6,980 sq ft (648.48 sq m)
Unit 12: 2,145 sq ft (199.30 sq m)
Unit 14: 2,145 sq ft (199.30 sq m)
Unit 15: 3,490 sq ft (324.24 sq m)
Unit 16: 2,145 sq ft (199.30 sq m)
Unit 17: 3,490 sq ft (324.24 sq m)
Unit 18: 2,145 sq ft (199.30 sq m)
Unit 19: 3,490 sq ft (324.24 sq m)
Unit 20: 2,145 sq ft (199.30 sq m)
Unit 22: 2,145 sq ft (199.30 sq m)
Offices (St Martins Avenue):
Units 2-8: 7,025 sq ft (652.68 sq m)
Units 10-16: 6,797 sq ft (631.42 sq m)
Units 18/22: 3,358 sq ft (311.96 sq m)
Units 20/24: 3,361 sq ft (312.28 sq m)
Offices (Legrams Terrace):
Unit 1: 1,694 sq ft (157.41 sq m)
Unit 2: 1,619 sq ft (150.39 sq m)
Unit 3: 1,660 sq ft (154.26 sq m)
Unit 4: 1,646 sq ft (152.91 sq m)
Unit 5: 1,628 sq ft (151.22 sq m)
Unit 6: 1,646 sq ft (152.91 sq m)
Unit 7: 1,628 sq ft (151.22 sq m)
Unit 8: 1,586 sq ft (147.35 sq m)
Unit 10: 1,631 sq ft (151.52 sq m)
Offices (Fieldhead Street):
Unit 2: 1,622 sq ft (150.73 sq m)
Unit 4: 1,630 sq ft (151.39 sq m)
Unit 6: 1,612 sq ft (149.75 sq m)
Unit 8: 1,632 sq ft (151.58 sq m)
Retail (Legrams Lane):
Unit 2: 3,938 sq ft* (365.82 sq m*)
Unit 4: 750 sq ft (69.68 sq m)
Unit 6: 755 sq ft (70.17 sq m)
Units 8/10: 2,415 sq ft** (224.36sq m**)
Unit 12: 722 sq ft (67.08 sq m)
Unit 14: 784 sq ft (72.86 sq m)
Unit 16: 7,037 sq ft (GIA) (653.73 sq m (GIA))
Total Area: 106,303 sq ft
* Including First Floor (1,244 Sq Ft)
** Including First Floor (837 Sq Ft)
Terms
We are instructed to seek offers in the region of £4,500,000 (Four Million, Five Hundred Thousand Pounds) for the freehold interest in the subject property. A purchase at this level reflects a Net Initial Yield of 11.24% and a Reversionary Yield of 12.35%, assuming usual purchasing costs of 5.80%.