KEY FACTS The Development

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Sylvia Bryant
5 years ago
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apartments to be created on four storeys A mix of studios and 1 and

Empire Property Concepts development Completion date July 2018

new, modern apartments 1 and 2 bedroom options Light and spacious

Halifax House is an impressive stone-built property set on the corner

Previously occupied by an insurance business, it is now the subject

5 million conversion scheme by the experienced developer Empire

The project will see the creation of 65 new, high-specification

The design calls for a high standard of finish in order to cater for

Locally, rental demand is high but there is a pronounced shortage of

Halifax House has been conceived to meet that rising demand.

feature en-suite shower and bathroom facilities, separate bedrooms

2 KEY FACTS A 3.5 million conversion of a former office building 65 top quality apartments to be created on four storeys A mix of studios and 1 and 2-bedroom units Located just 500 metres from Halifax town centre An Empire Property Concepts development Completion date July 2018 REDEVELOPMENT PLAN Preserve existing facades and features Create 65 new, modern apartments 1 and 2 bedroom options Light and spacious room designs Energy efficiency improvements Completion date July 2018 Halifax House is an impressive stone-built property set on the corner of Blackwall and Ferguson Street close to the centre of Halifax. Previously occupied by an insurance business, it is now the subject of a 3.5 million conversion scheme by the experienced developer Empire Property Concepts. The project will see the creation of 65 new, high-specification apartments over the four storeys of the building - a mix of studio flats and 1 and 2-bedroom apartments. Work is expected to be completed by July The design calls for a high standard of finish in order to cater for the growing professional and key-worker markets in the town. Locally, rental demand is high but there is a pronounced shortage of good quality accommodation for more discerning, higher-paying tenants. Halifax House has been conceived to meet that rising demand. Built to the most exacting modern standards, its apartments will feature en-suite shower and bathroom facilities, separate bedrooms and living areas, together with well equipped kitchens. For tenants, the property will provide a comfortable and convenient central location, close to all the town s amenities. For investors, it affords an opportunity to take advantage of a fast-improving market together with excellent prospects for healthy yields and sustainable capital growth.

KEY FACTS The Development A PRIME TOWN CENTRE A PRESTIGIOUS & ATTRACTIVE BUILDING A TOP QUALITY CONVERSION SCHEME 1 & 2 BEDROOM PROPERTIES DESIGNED FOR THE PROFITABLE PROFESSIONAL MARKET

and should spur an influx of new workers.

The developer, Empire Property Concepts, is highly experienced in office-to-residential conversions and has an enviable record of creating desirable town centre accommodation.

For all local landlords, this will be good news, but it will be especially so for those with more modern, upmarket properties to let.

3 KEY FACTS The Development A PRIME TOWN CENTRE A PRESTIGIOUS & ATTRACTIVE BUILDING A TOP QUALITY CONVERSION SCHEME 1 & 2 BEDROOM PROPERTIES DESIGNED FOR THE PROFITABLE PROFESSIONAL MARKET EXCEPTIONAL RENTAL DEMAND HEALTHY YIELDS AVAILABLE DEMAND SET TO RISE FURTHER IN THE COMING YEARS The growth of the town s economy is likely to have a positive effect on local businesses and should spur an influx of new workers. LEP forecasts suggest that Halifax will see an increase in the number of professionals looking for accommodation as they seek to take advantage of new jobs and a better place to live. The developer, Empire Property Concepts, is highly experienced in office-to-residential conversions and has an enviable record of creating desirable town centre accommodation. It specialises in transforming buildings into excellent living spaces, and occupancy rates on its previous developments remain close to 100%. For all local landlords, this will be good news, but it will be especially so for those with more modern, upmarket properties to let. The supply of good quality accommodation is very limited within the town, so Halifax House has been designed to appeal to more demanding - and more affluent - tenants. Having identified central Halifax as an ideal investment location, Empire Property Concepts has produced a 3.5m redevelopment plan that emphasises comfort, quality and modernity. Rooms will be spacious, with clean lines, good light and all the features that 21st century tenants expect.

4 COMMERCIAL ST HALL STREET COW GREEN RUSSELL ST LISTER LANE LISTER LANE OLD COCK YARD HALIFAX BOROUGH MARKET ON FOOT BY CAR BY BUS BY RAIL BY AIR NEW BOND ST LANE THE ELSIE WHITELEY INNOVATION CENTRE A58 A58 BURDOCK WAY ELLINGTON STREET WEST WEST PARADE SOUTH STREET HANOVER ST PARADISE STREET WHITELEY ST ARCHES ST BOYNE ST HOPWOOD LANE KINGS CROSS ROAD SAVILE PARK ROAD DELPH STREET KENT STREET SAVILE CRESENT REGENT STREET BULL CLOSE LANE BALMORAL PLACE CARLTON PLACE CARLTON STREET BLACKWALL TRINITY PLACE BULL GREEN FURGUSON STREET BACK FURGUSON STREET BARUM TOP ANE HARRISON ROAD CARLTON TERRACE TRINITY STREET POWELL ST FOUNTAIN ST POWELL ST Halifax House Blackwall Halifax HX1 2PZ ST JOHN S LANE PRESCOTT STREET SKIRCOAT RD WARD S END HORTON ST ACCESS COLERIDGE ST CLARE ROAD HALIFAX SWIMMING POOL UNION ST PRESCOTT STREET CLARE ST NEW ROAD UNION ST HALIFAX CENTRAL LIBRARY WELLINGTON ST S Halifax House is located on the corner of Blackwall and Ferguson Street, just 500 metres from the centre of Halifax. Banks, shops and similar amenities are all just a short walk away. The nearest restaurant requires a walk of just 40 metres. Access The nearest junction of the A58 lies just 350m from the front door of Halifax House. This is part of a highway network that connects to nearby Leeds, Bradford and Huddersfield, as well as west to Manchester, Bolton, Rochdale and other major centres of employment. There are several bus stops within a 200 metre radius of Halifax House, and these provide connections to the town centre, local destinations and outlying conurbations such as Rochdale and Todmorden. Halifax Railway Station is located a little over 600 metres from Halifax House. It lies on the Caldervale Line and runs services to key destinations such as Bradford, Huddersfield, York, Blackpool and Manchester. Services also operate to London King s Cross via Doncaster. Importantly, the station offers quick connections to Leeds, which will ultimately be served by the HS2 railway line. Thus, future residents will be able to count on speedy connections to London and the Midlands. DISTANCES TO KEY S: HQ of Halifax plc / Lloyds Banking Group m Victoria Theatre m Westgate Arcade Shopping m The Piece Hall / Town Square m People s Park m Central Library m A629/A58 roundabout m Halifax Railway Station m Bradford... 10km Huddersfield... 10km Leeds... 23km Manchester... 36km Bolton... 40km Sheffield... 48km The nearest airport is Leeds Bradford Airport, which lies 21km to the north east. It serves major destinations in Europe, North and South America, Asia, Africa and Australasia.

The Property Market The Land Registry figures for the 12 months to January 2018 show an 8.3% increase in average values across Calderdale, which compares against a figure of just 4.

According to figures published by HM Land Registry in January 2018, the average house in Calderdale cost 139,474.

Given the strong and ever-rising demand for good rental property in the town, this translates into the very real prospect of exceptionally strong yields.

Investors will inevitably recognise the likely implications of the ongoing town centre regeneration work, and the accompanying improvements to local infrastructure.

The market is already showing signs of above-average growth. The Land Registry figures for the 12 months to January 2018 show an 8.

5 The Property Market The Land Registry figures for the 12 months to January 2018 show an 8.3% increase in average values across Calderdale, which compares against a figure of just 4.6% for England as a whole. Average values in Halifax are substantially lower than UK norms, but the area s increasing appeal has not gone unnoticed by investors. According to figures published by HM Land Registry in January 2018, the average house in Calderdale cost 139,474. The UK average exceeds that by more than 100,000 so, for investors, Halifax and its immediate surroundings offer a chance to secure a highly marketable property at an unusually low price. Given the strong and ever-rising demand for good rental property in the town, this translates into the very real prospect of exceptionally strong yields. However, prices will not remain subdued for long. Investors will inevitably recognise the likely implications of the ongoing town centre regeneration work, and the accompanying improvements to local infrastructure. This, coupled with the massive investment taking place at the regional level, and the advent of HS2, all suggests that the local property market is set for sustained growth and profitability. The market is already showing signs of above-average growth. The Land Registry figures for the 12 months to January 2018 show an 8.3% increase in average values across Calderdale, which compares against a figure of just 4.6% for England as a whole. Over the same period, average values in Central London fell by 7.9%. Market sentiment in Halifax is currently very positive, driven in part by investors attracted by the prospect of high yields. A continuing under-supply of housing also bodes well for rentals and capital values. According to Calderdale Council, this shortfall is severe; just 350 homes were created in 2015/16 and, since 2008, demand has outstripped supply by a factor of more than 2:1. Much of this demand stems from incomers under 30, who are attracted by steadily improving job prospects and the town s vibrant culture. Another key growth market comprises starter families, not yet on the property ladder, who are seeking a comfortable lifestyle within reach of work and Halifax s excellent schools. Of course, demand, rentals and price growth will not be uniform across the area; certain neighbourhoods will fare better than others. However, properties such as Halifax House, which is set just a few hundred metres from the centre of a fast-revitalising town centre, are more likely than most to appreciate quickly.

KEY FACTS Halifax at a Glance Calderdale, West Yorkshire, England POPULATION 82,500 ECONOMY Part of the 64bn Leeds City Region BUSINESS POPULATION 8,500 (Calderdale) A PRIME TOWN CENTRE DESIGNED FOR

6 KEY FACTS Halifax at a Glance Calderdale, West Yorkshire, England POPULATION 82,500 ECONOMY Part of the 64bn Leeds City Region BUSINESS POPULATION 8,500 (Calderdale) A PRIME TOWN CENTRE DESIGNED FOR THE PROFITABLE PROFESSIONAL MARKET Calderdale s strategic position within the Leeds City Region, with strong physical and geographical connections to Greater A PRESTIGIOUS Manchester, provides A TOP QUALITY it & ATTRACTIVE CONVERSION with BUILDING significant opportunities SCHEME to outperform its peers... (It can) serve as a bridge for flows of investment and labour capital, to the benefit of both regional economies. CALDERDALE, THE NEXT CHAPTER EXCEPTIONAL HEALTHY Calderdale Council RENTAL YIELDS DEMAND AVAILABLE 1 & 2 BEDROOM PROPERTIES DEMAND SET TO RISE FURTHER IN THE COMING YEARS KEY EMPLOYMENT SECTORS DIGITAL INDUSTRIES FINANCIAL BUSINESS SERVICES NOTABLE EMPLOYERS Calderdale Council Calderdale College Covea Insurance Crosslee plc Jack Wills Lloyds Banking Group (inc. Halifax plc) Marshalls plc LOW CARBON ENERGY McVities Nestlé UK NHS Royal & Sun Alliance MANUFACTURING RETAIL Siddall Investments SSP Worldwide Yorkshire Bank NEW INFRASTRUCTURE AND TRANSPORT IMPROVEMENTS 150m invested in Calderdale Transport Improvement programme A629 Halifax to Huddersfield : allocated 120m for transport and accessibility improvements Bus priority changes to improve traffic flow Improvements at the A629 / A6026 Calder and Hebble junctions et al Improvements to Junction 24 of the M62 New express bus services between Halifax and Huddersfield Improvements expected to generate 1,740 new jobs by 2026

7 KEY FACTS Leeds at a Glance West Yorkshire, England POPULATION 3 Million ECONOMY 64+ Million EMPLOYMENT 1.4 Million A PRIME TOWN CENTRE Leeds City Region boasts a diverse, dynamic A PRESTIGIOUS and thriving economy A TOP which QUALITY & ATTRACTIVE CONVERSION brings huge BUILDING economic benefits SCHEME to the 1 & 2 BEDROOM PROPERTIES North and the UK s competitiveness. BUSINESSES 109,000 BUSINESS GROWTH 15% Since 2011 EMPLOYMENT GROWTH 10% (10,000+ jobs) Since 2011 APPRENTICESHIPS 4000 Created Since 2016 EDUCATION 9 higher education institutions and 14 colleges DESIGNED FOR THE PROFITABLE PROFESSIONAL MARKET ROGER MARSH OBE Chair, Leeds City Region Enterprise Partnership EXCEPTIONAL RENTAL DEMAND HEALTHY YIELDS AVAILABLE DEMAND SET TO RISE FURTHER IN THE COMING YEARS KEY INDUSTRIES CREATIVE & DIGITAL FINANCIAL BUSINESS SERVICES LOW CARBON TECHNOLOGIES RETAIL ADVANCED MANUFACTURING MAJOR INVESTMENT SOURCES GOVERNMENT GROWTH DEAL NORTHERN POWERHOUSE FUNDING HS2 HIGH SPEED RAIL LINKS EDUCATION INFORMATION TECHNOLOGY HEALTHCARE TECHNOLOGIES CONSTRUCTION MANUFACTURING

The Northern Powerhouse Summary The Northern Powerhouse is a Governmentbacked economic

towns and cities. Leeds City Region is one of the key areas targeted for support.

If we can make this region an economic Powerhouse, the whole of the UK will benefit.

ATTRACTIVE PRE-MARKET PRICES STRONG RENTAL DEMAND The Powerhouse scheme will facilitate

devolution of economic development powers through City Deals.

3 billion allocated to Local Enterprise Partnerships 556 million committed in January 2017 60

8 The Northern Powerhouse Summary The Northern Powerhouse is a Governmentbacked economic development plan that seeks to rebalance the present pattern of investment in favour of northern towns and cities. Leeds City Region is one of the key areas targeted for support. If the Northern Powerhouse were a country, it would be amongst the biggest economies in Europe. If we can make this region an economic Powerhouse, the whole of the UK will benefit... we will ensure the Northern Powerhouse is recognised worldwide for the trade and investment opportunities it offers. PHILIP HAMMOND MP Chancellor of the Exchequer PROJECTED RENTAL YIELDS OF 8% LOW INVESTMENT COST ATTRACTIVE PRE-MARKET PRICES STRONG RENTAL DEMAND The Powerhouse scheme will facilitate improvements to transport and infrastructure, investment in science and technology, and the devolution of economic development powers through City Deals. 13 billion earmarked for transport improvements in the North Over 3.3 billion allocated to Local Enterprise Partnerships 556 million committed in January million funding for Northern Powerhouse Rail 400 million Northern Powerhouse fund for SME investment LITTLE LOCAL COMPETITION FOR QUALITY APARTMENTS EXCELLENT YIELDS ACHIEVABLE SET IN AN AREA OF FAST- RISING INWARD INVESTMENT EXCEPTIONAL POTENTIAL FOR CAPITAL GAINS COMPLETION DATE CIRCA JULY 2018

LISBON STREET, LEEDS LISBON STREET, LEEDS DEVELOPMENT OPPORTUNITY

LISBON STREET, LEEDS LISBON STREET, LEEDS DEVELOPMENT OPPORTUNITY LISBON STREET, LEEDS DEVELOPMENT OPPORTUNITY 01 A CLEARED SITE OFFERING A DEVELOPMENT OPPORTUNITY EXTENDING TO A TOTAL OF 1.12 HA (2.77 A). THE SITE HAS POTENTIAL TO ACCOMMODATE UPTO FIVE BUILDINGS ON