A letting by commercial property agent, Eddisons has led to a chain of deals that resulted in the sale of an entire Huddersfield business park.
Acting on behalf of Gladman Developments, Eddisons, along with joint agent, Knight Frank, successfully let a 5,124 sq ft office building on Cartwright Court in the town’s Bradley area to Oval Insurance Broking Limited (Oval) – a deal which took the 35,000 sq ft development’s occupancy levels to over 90 per cent.
Moving after the acquisition of a local insurance broker necessitated bigger premises, Oval Inusrance signed a ten-year lease, complete with three-yearly rent reviews, off an asking rent of £12.50per sq ft on full repairing and insuring terms.
Following on from this deal, Gladman sold the leasehold elements of Cartwright Court to Frogmore Northern – a division of development and investment company, Frogmore Property. This deal also included 22 other Gladman sites across the UK.
Eddisons has since been appointed to advise Frogmore Northern on the future management of its leased units on Cartwright Court.
Jason Metcalfe of Eddisons’ Huddersfield offices commented: “We’ve acted as joint letting agent on Cartwright Court since Gladman speculatively launched the scheme in 2005 and so it’s a reassuring reflection of our capabilities that we’ve achieved 90 per cent occupancy and helped to lift the park’s profile to a level that has attracted a buyer. Bradley has been a huge success and many new occupiers have been attracted to the Business Park. Almost full occupancy has been achieved in a twelve month marketing period.”