Hurstwood Holdings has expanded its national portfolio with the off-market acquisition of a 42,518 sq ft head office in Huddersfield. The property, purchased from a private investor for an undisclosed sum, offers an impressive 17% yield.
Broad Lea House, located on Bradley Business Park, is a four-story, self-contained building constructed in 2009. It is fully leased to FMG Support Group Limited – one of Huddersfield’s largest private employers – on a long-term basis.
This acquisition marks the second in Yorkshire for the Manchester-based company, which now holds over 150 sites across the UK as part of its £300 million property portfolio.
“This is a significant addition to our portfolio as we continue to expand and diversify our national footprint,” said Stephen Ashworth, Chairman and CEO of Hurstwood Holdings. “We were particularly attracted to this opportunity due to the building’s prime location, high specification, and the positive energy from FMG Support Group. Their dynamic approach and efficient hot-desking policy help maintain a fully utilised workspace for their 800 employees.”
Lloyds provided funding for the deal, continuing a partnership with Hurstwood that has spanned over three decades and has supported the company’s growth since its early days.
Legal counsel on the acquisition was provided by Gateleys and Hurstwood Holdings’ in-house lawyer, Jayne Hindle. Richard Bousfield of Hurstwood Asset Management sourced and advised on the transaction.
