Member Article

£2.1 million pricetag for Leeds and Braford offices after acquisition

Two offices in Leeds and Bradford have been placed on the market for £2.1 million following the sale of Beaumonts Insurance to Jelf Group plc at the end of last year.

The buildings were formerly occupied by Beaumonts but, as part of the £18.4 million takeover deal, new ten year leases have been agreed with AIM- listed Jelf, generating rent of £185k per annum in total.

All Beaumonts’ employees, including the directors, have been retained by Jelf and will continue to work from the offices.

Both buildings are detached, two storey, modern brick built offices occupying prime sites in Horsforth and at the head of the M606 in Bradford, and have a combined floor area of 13,650 sq.ft.

Nick Salkeld of Leeds-based chartered surveyors Fox Lloyd Jones said: “These are two well let office premises as of December 2014. Not only are the properties in prime out of town office locations, they are also occupied by an excellent tenant which has recently agreed a ten year lease.

“Jelf Group is extremely successful having been trading for 25 years and in its 10th year in AIM. Last financial year it posted record figures with a turnover of £82.6m and profit after tax up 40% at £6.5 million.”

“Although our preference is for one sale we would also consider selling each property independently.”

Interested parties should contact Fox Lloyd Jones.

This was posted in Bdaily's Members' News section by Clare Burnett .