Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

August 2018

Jaguary Land Rover, Summit 24, Lindley Moor Road, Huddersfield, HD3 3TB

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Dealership Developments Ltd, a subsidiary of Rybrook Holdings and represented by FSP, has exchanged contracts with NFU on the forward funding of a new state of the art flagship JLR dealership in Huddersfield.

Construction on the dealership will commence shortly with practical completion scheduled for July 2019.

The property will comprise a new flagship dealerships for the Yorkshire region incorporating the premium franchises of Jaguar and Land Rover and extending to 58,500 sq.ft on a site of 5.35 acres.

The property property will be let to Rybrook Cars Ltd, guaranteed by Rybrook Holdings Ltd, for a term of 20 years from completion.  The commencing rent will be £700,000 per annum (£11.96 per sq.ft).  The lease will be subject to five yearly upward only reviews to RPI collared at 1% and capped at 2% per annum compounded.

The development funding sold for £13,000,000 which reflected a net initial yield of 5.00%.

Knight Frank represented NFU.