A VAST business park which is a “major employer” is up for sale for offers of more than £16 million.
Flush Mills in Heckmondwike is one of Kirklees’ largest industrial estates, with 489,000 sq ft of fully occupied industrial space on a 23-acre site.
It homes seven businesses and is being marketed jointly by GV&Co and Michael Steel & Co, on behalf of Wharfedale Property.
The property agents believe it will “appeal to regional, national and international property investors”.
What is Flush Mills in Heckmondwike?
The fully secure site, which is less than three miles from the M62 and sits between Huddersfield, Leeds, Wakefield, and Bradford, has four access points and provides a broad mix of industrial accommodation, including several refurbished and newly constructed warehouse buildings.
The sale also includes a 3.9-acre site, opposite the main estate on the A638 Wakefield Road, which is zoned for residential development and could represent an onward sale opportunity by the purchaser, subject to planning approval.
Flush Mills currently generates a passing rent of more than £1.79 million per annum and is being marketed for offers in excess of £16 million, subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 10.5 per cent allowing for purchaser’s costs.
Notable occupiers at Flush Mills include Autoneum, Wakefield Acoustics, Quick Slide/Renaissance Windows, Yorkshire Packaging Services, and Furniture & Choice.
The estate also accommodates several other businesses, which “reflects the site’s continued flexibility and contribution to the local and regional economy”.
Estate is ‘major employer’ in Heckmondwike
A representative of the joint selling agents said: “Flush Mills offers significant asset management opportunities which will further enhance how the estate has been skilfully repurposed in recent years, with parts of the site benefitting from a substantial refurbishment, and two new buildings were constructed in 2021.
“The estate has been a major employer in Heckmondwike and the surrounding area for well over 100 years and is fully let to numerous reputable and established manufacturing companies and significant SMEs.
“All this will appeal to property investors looking for high-yielding opportunities, where they can add further value.”
