Holbeck globe_road

Property Sale of Holbeck Urban Village Development Site

Project

A high street bank, recognising Eddisons’ longstanding expertise in business support and recovery situations, instructed us to undertake a significant development site disposal involving a substantial bank debt.

This 5.85 acre site on the outskirts of Leeds City Centre consisted of a 45,000 sq ft tenanted industrial building and cleared land containing 750 car parking spaces. There were a variety of complex issues attached to the site including enforcement notices served on the car park for which there was no planning consent and a lease on the whole property to a connected company who collected all of the income.

Approach

Eddisons ensured that the overriding lease was forfeited and employed a dedicated member of staff to manage the 750 car parking spaces in-house to reduce the bank’s costs and ensure control. Also obtaining temporary planning consent for car parking to protect significant income.

We agreed a lease renewal for the industrial tenant on favourable terms to permit development if required and obtained detailed planning consent for a mixed use scheme including residential, hotel and office. With consents in place and a long term tenant secured the site became a much more feasible and attractive proposition for Eddisons to market for sale.

Result

Significantly increased the value of the building and achieved £6m from the sale of the property as a single lot (£4m higher than previous bank valuations). We were also able to secure in excess of £1.5m of income from the car park and industrial tenant which funded the planning process and meant no additional funds were required from the bank.

Related reading

View All
Sale of Junction Point Warehouse to Property Investors
shutterstock_2383194703

// Property Agency

Sale of Junction Point Warehouse to Property Investors

Property Sale for St Anne’s Community Services
Holdforth Court FINAL

// Property Agency

Property Sale for St Anne’s Community Services

Letting of Warehouse Unit in Thetford
Untitled design 72

// Property Agency

Letting of Warehouse Unit in Thetford

Cambourne Office Lease Advisory
Cambourne Park

// Property Agency

Cambourne Office Lease Advisory

View Meet the Team
CTA grid   Our Team

Our team

We're proud to employ more than 450 talented individuals working across a multitude of disciplines.

Find Your Nearest Office
UK Map   Dotted

Office finder

Eddisons is rapidly growing; emphasised by our nationwide network of 30 offices across the UK.

Get In Touch with Eddisons
CTA grid   Contact Us

Contact us

We're ready to take your call and can quickly pass you through to the right department.

Sign Up To Our Newsletter
CTA grid   Newsletter

Newsletter

Join thousands of property managers, occupiers, landlords and investors receiving the latest insights.

This site uses cookies to monitor site performance and provide a more responsive and personalised experience. You must agree to our use of certain cookies. For more information on how we use and manage cookies, please read our Privacy Policy.