A former Wakefield Council Waste Transfer Station that was bought for redevelopment in 2017.
The site was acquired for £165,000 and a planning consent for a new 10,000ft2 unit was granted later that year.
The existing infrastructure was removed and the site was resurfaced and let to Reco Hoists on a 10 year lease at £28,000pa.
Somerset House is a Grade 1 listed building in the middle of Halifax that was built in the 1750’s for a state visit by George II, King of England. By 2005 the building was in piecemeal ownership and in a poor state of repair. The Council received a European grant of £2 million to merge all the interests and then sold the property to a local developer. Sadly his attempt to breathe new life into the property ran into difficulty in 2016 and Teakwood acquired the property in a part refurbished state for £690,000. Subsequently a further £350,000 has been committed and the property now provides 7 flats, offices, a bar & restaurant and 4 retail units producing a rental income of circa £190,000 pa.
The property on Whitfield Gardens was originally built as a job centre but at the time of purchase, it was occupied by the home office as an interview centre.
It was bought with vacant possession for £265,000 and underwent a refurbishment programme before being let to Jelly Kids, a local pre-school nursery on a 15 yar lease at £30,000pa.