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50 New Street, Huddersfield, HD1 2BW

Marketed by:

Savills

Savills

33 Margaret Street, London W1G 0JD, UK

020 7499 8644

For Sale

Long Leasehold Bank Investment with Rear Conversion Potential

50 New Street, Huddersfield, HD1 2BW

For Sale

£350,000+

• High Yielding Bank Investment


• Long Leasehold


• Part let to Skipton Building Society; rear building vacant

Description


The property comprises a three story stone building fronting New Street. The ground and first floor are let to Skipton Building Society, on a 10 year lease expiring in March 2033. To the rear is a two storey building with separate access via the courtyard, providing asset management potential via letting/residential conversion of the vacant part (subject to planning). Planning permission has been granted to convert the second floor and rear building to residential flats.


Accommodation


50 New Street: Ground Floor 131.11 sq.m (1,411 sq.ft); Part First Floor 60.99 sq.m (657 sq.ft); Second Floor 63.30 sq.m (681 sq.ft). 50 New Street Rear: Second Floor 100.2 sq.m (1,077 sq.ft); First Floor 68.23 sq.m (734 sq.ft). Total Floor Area: 423.66 sq.m (4,560 sq.ft).


Location


Located on an established retail pitch in a prominent position on New Street, one of Huddersfield town centre's principal pedestrianised retail thoroughfares. Nearby retailers include Marks & Spencer, JD Sports, Foot Locker and Holland & Barrett.


Tenure / Property Information


Tenure

Long Leasehold

Lease

900-year lease commencing 25 December 1982, subject to a ground rent of £100. Ground and first floor let to Skipton Building Society on a 10-year lease expiring in March 2033; tenancy commenced 20 March 2023.

Occupancy

Part let to Skipton Building Society; rear building vacant


Investment Analysis


The £350,000 guide is not a formal valuation. The subject property sold for £275,000 in August 2019. Nearby New Street leasehold sales were £435,000 in December 2023 and £780,000 in May 2022, but the evidence does not provide sufficient detail to establish comparability by size, income, condition or configuration. The ground and first floors are let to Skipton Building Society until March 2033, while the rear building is vacant and has planning permission for residential-flat conversion. No rent, refurbishment budget, buyer fees or current valuation evidence is supplied, so GDV and bid limits cannot be reliably quantified.


Investment Snapshot


Guide Price

£350,000


Strategy Recommendation


Treat as a due-diligence-led income and development opportunity rather than a priced investment. Obtain the full lease, rent and planning documents, conversion cost plan and valuation before bidding.


Works Required


No works schedule or cost evidence is supplied. The stated asset-management opportunity is to implement the granted conversion of the second floor and rear building to residential flats, subject to confirmation of the permission, technical requirements and deliverability. No specific construction works should be assumed.


Rental & Market Context


No sufficiently specific external rental comparable identified.


Sold Comparables


The following completed sales were identified within approximately 5 miles:


56 - 58, New Street, Huddersfield, Kirklees, Hd1 2bw
2023-12-21 · Other · Leasehold

£435,000

44 - 48, New Street, Huddersfield, Kirklees, Hd1 2bw
2022-05-20 · Other · Leasehold

£780,000

50, New Street, Huddersfield, Kirklees, Hd1 2bw
2019-08-27 · Other · Leasehold

£275,000

60, New Street, Huddersfield, Kirklees, Hd1 2bw
2018-02-07 · Other · Leasehold

£305,000

60, New Street, Huddersfield, Kirklees, Hd1 2bw
2015-10-14 · Terraced · Leasehold

£260,000


Potential BRRR Position


The property has potential for an income-plus-development BRRR strategy because part is let and the rear building is vacant with stated residential conversion permission. However, the conversion cost, completed residential value, achievable rents, finance costs and refinance valuation are all unsupported. Refinance proceeds and cash left in cannot therefore be calculated.


Buy-to-Let Analysis


A BTL yield cannot be established because no passing rent, auctioneer rent estimate or sufficiently specific external rental evidence is provided. The existing income is from Skipton Building Society, but the rent and lease terms beyond the stated expiry are not disclosed. The rear building is vacant and would require a separate letting or residential-conversion strategy.


Flip Analysis


A flip appraisal cannot be completed reliably. There is no supported current GDV, refurbishment budget, selling-cost allowance or evidence of the value of the converted flats. The supplied sales provide contextual evidence only and are not sufficiently detailed for a project valuation.


Investor Risks & Due Diligence


• The ground and first floors are let only until March 2033, with no passing rent disclosed.


• The rear building is vacant, so it currently produces no evidenced income.


• Residential conversion value and deliverability cannot be confirmed from the supplied evidence alone.


• No refurbishment or conversion cost plan is provided.


• No rental evidence is available to establish yield or future residential income.


• The property is long leasehold and subject to a £100 ground rent.


• Buyer, administration and other auction fees are not supplied.


Recommendation


Treat as a due-diligence-led income and development opportunity rather than a priced investment. Obtain the full lease, rent and planning documents, conversion cost plan and valuation before bidding.


Strategy Rating


HB Rating

★★★☆☆


Analysis Confidence


Confidence

Low


Comparable sales and headline tenure, occupancy and floor-area information are supplied, but rent, lease economics, planning detail, works costs, fees and current GDV evidence are missing.


Auction Details : 

Savills

Auction Date : 

03/11/26

Lot Number : 

124

Tradelend Limited
Tradelend Limited

Bridging Finance, Development Finance

0203 886 2530

Tiger Financial
Tiger Financial

Bridging Finance, Development Finance

020 7965 7261

Tuscan Capital
Tuscan Capital

Bridging Finance

020 7846 9030

UK Bridging Loans Ltd
UK Bridging Loans Ltd

Bridging Finance

0116 366 6338

Ultimate Finance
Ultimate Finance

Bridging Finance

0800 121 7757

Property Location:

50 New Street, Huddersfield, HD1 2BW

  • BRRR Calculator - Estimate your potential returns after refurbishment and refinancing.

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