Building Briefs: Mabgate Business Centre; LSH; Carter Towler; GVA; Knight Frank

MABGATE Business Centre is to invest more than £100,000 in further refurbishment of the mill dating back to 1890.

The building is being used as a business centre and has a target market of new start companies.

Gerry Costello, managing director at Mabgate, said: “We set out to offer start up businesses in Leeds quality accommodation at an affordable price and within easy reach of the city.”

The refurbishment will create more than 2500 sq ft of grade A office space.

“We will be using all local teams to carry out the works and expect to be ready for new tenants mid – May,” added Costello.

Mabgate Business Centre in Leeds is the home of 17 small businesses from health care through to web design.

Funding is provided by Lloyds Banking Group.

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THE industrial and logistics agency teams at commercial property consultancies Lambert Smith Hampton (LSH) and Carter Towler have been appointed to market Springwell Point, the first speculative industrial development in Leeds for more than three years.

Due to complete in Spring, Springwell Point will offer four units ranging from 1,430 sq ft to 6,970 sq ft.

Simon Hill, industrial & logistics surveyor at LSH, said: “We are pleased to have been appointed to market Springwell Point and there has been strong interest in the development from occupiers. The industrial market has seen no new development for several years and it’s great news that there are spades in the ground to redress the balance. Demand is significant for sheds between 1,000 and 10,000sq ft and we predict that the success of Springwell Point will give confidence to other developers, bringing new buoyancy to the market.”

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THE iconic pier and visitor attraction at Paignton in Devon has been acquired by Stade Developments (Hastings) in a deal involving a Yorkshire team of property agents.

Hospitality & Leisure specialists ES Group represented the purchaser, while the vendor, Mitchell Leisure Investments, was represented by GVA Hotels and Leisure in Leeds.  Mitchell Leisure originally acquired the property in 1994.

The 740 ft freehold pier, which dates back to 1879 was substantially extended in 2000 at a cost of over £1m and comprises a café, four shops and an amusement arcade.  The freehold was sold off an asking price of £1.85m.

Colin White from ES Group  said: “We are delighted to have acquired a classic pier on the ‘English Riviera’ which represents a rare opportunity to acquire a profitable pier with great potential.

Richard Baldwin from GVA Hotels and Leisure aded: “Following extensive marketing of the pier we successfully identified a suitable purchaser demonstrating our knowledge and experience in this specialist market.”
 
Meanwhile, GVA Hotels and Leisure has sold a popular holiday park in Scotland off a guide price of £1.25m.

The Three Lochs Holiday Park in Dumfries and Galloway has been acquired by an experienced park operator.

The park was offered by GVA Hotels and Leisure on behalf of the Cumbrian-based Holker Group which own a number of other holiday parks and a wide range of commercial investments across the north of England.

Three Lochs is an established ‘forest retreat’ style holiday park, in the south west of Scotland, 12 miles from Newton Stewart, and set amongst heavily wooded and secluded countryside.

Established in 1974, the site is set in 64 acres and benefits from fishing and boating rights on the three lochs from which it takes its name.

Included with the park are 167 holiday pitches plus consent for a further 50 touring caravan spaces.

Activities on the park include a nine-hole golf course, archery, café, shop and a covered swimming pool.

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AVIVA Investors has completed a 12 week, £400,000 refurbishment of Units 3 and 5 City Park, Gelderd Road, Leeds.

The units extend to 11,000 sq ft and 44,000 sq ft respectively and are being marketed on a new lease basis by joint marketing agents GVA and Savills.

Ben Rennocks, of CBRE, who managed the works, said: “We have undertaken a comprehensive refurbishment of the units, following their vacation by the previous tenants.

“The old fit outs have been removed, and the offices returned to an open plan layout. The floors have been cleaned and painted. Comfort cooling has also been installed in the offices of Unit 5.”

Rob Oliver, industrial director at GVA, said: “We are very pleased with the refurbishment. The units are presenting well, and are now ready for immediate occupation, which helps us with those occupiers without much time.

“This, together with their excellent location on Gelderd Road near the outer ring road has encouraged a number of parties to view recently, and we are talking to various occupiers about the units.”  

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A NEW development has launched in Horsforth offering 3,000 sq ft of serviced office space that can accommodate 10 to 50 desk units.

The development, by Stonebridge Offices, follows the successful Park House project.

Carol Gunn, general manager for Stonebridge Offices, said: “Stonebridge House offers a professional and comfortable workspace designed to meet the needs of small businesses. Our concept is based on providing a high quality working environment backed by professional staff and an understanding that we are here to support our customers growth. This is evidenced that many of our Park House customers have stayed with us to grow into bigger units.”

The offices come with free parking and the option to use Park House on Park Square in Leeds city centre, as a primary business address.

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PROSPECT Estates has announced the sale of a multi-million pound portfolio totalling 640,000 sq ft of industrial and offices spread over 30 acres.

The properties were purchased by H.I.G Bauer Property as the initial portfolio acquisition in a joint venture established by Bayside Capital in partnership with specialist asset manager Bauer Group, which is targeting high yielding commercial multi-let assets in the UK.

Otley-based Prospect Estates has been working on this initial acquisition with Bauer for several months assembling the portfolio with a dedicated team that will continue to manage these assets on a day to day basis.

John Lund, chief executive of Otley-based Prospect Estates said: “The sale to Bauer Group represents another successful outcome to Prospects Estates primary business strategy of buying quality empty premises, inceasing rental imcome across the portfolio and the selling of selected assets to third party investors.”

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THE Leeds office of property consultancy Knight Frank has advised on a 43,000 sq ft letting at Hartley Business Park in Bradford.

 

Dempson Crooke, the leading Yorkshire manufacturer of paper carrier bags, has signed a five-year lease on Units 5 and 6 at the business park, which is owned by the Hartley Property Group.

 

A spokesman for the Hartley Property Group said: “In recent years we have seen confidence return to the industrial property market in Yorkshire – and the letting of another 43,000 sq ft in our modern Hartley Business Park is a significant demonstration of this.”

 

Tom Lamb, industrial property specialist with Knight Frank in Leeds, said: “We were delighted to broker this important deal, which enables a successful Yorkshire company like Dempson Crooke to expand into superb new premises.”

 

The Dempson Crooke deal brings the total occupied space in the Hartley business park to 68,000 sq ft, with 85,000 sq ft still remaining in units ranging from 21,000 sq ft to 38,000 sq ft, with the option to combine multiple units if required.

 

 

 

 

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