CBRE’s UK Development and Residential Northern team has secured a sale on Grade II Listed office building Moorfield House in Headingley, Leeds, to Illuminating Investments for the sum of £1.6m.
CBRE acted on behalf of the administrators of the building after Brass Agency, the former owners, went in to administration at the end of 2019.
Moorfield House has the potential for redevelopment, subject to planning, to convert the existing Grade II Listed building into apartments and demolition of the existing single storey office building for new build mews houses.
The property currently comprises of a Grade II Listed office building and single storey linked extension building with 50 car parking spaces on a 1.61 acre site on Alma Road.
The site is in the popular Headingley suburb close to Headingley Railway Station and is located just three miles from Leeds City Centre, with the immediate surroundings predominantly residential with some commercial use. Moorfield House has the potential for its original features to be restored, complementing the premium end sales values expected to be realised from the site.
David Aspland, director, Illuminating Investments, said: “Moorfield House is exactly the type of opportunity we look for, it’s brilliantly located, interesting and has bags of potential for future redevelopment incorporating office or residential use.
“It also appeals to specific end users and we are talking in detail to such a party at the present time.”
Illuminating Investments is an independent property development and investor company which focusses on refurbishing and new build mixed use schemes for the residential and commercial sector.
Nina Barker, CBRE’s head of Northern Residential Sales and Marketing, said: “We are delighted to secure a sale on Moorfield House which offers an exceptional redevelopment opportunity for Illuminating Investments in a popular suburb of Leeds.
“The property’s Tudor gothic castle style is an appealing feature for the conversion development in an excellent location.”
Moorfield House is a Victorian property built between 1855/56 by William Glover Joy, a seed crusher, oil merchant and former Leeds Mayor, on land which earlier belonged to the estate of the 7th Earl of Cardigan who led the ill-fated charge of the Light Brigade in the Crimean war.