The initial three properties, which are located in Accrington, Hull and Skipton and total over 55,000 sq ft, are being sold following the expiry of the leases with the incumbent tenant, the Department of Work and Pensions (DWP).
The leasehold liabilities of the sites were initially passed to Telereal Trillium as part of its contract with DWP, which allowed the government body to vacate its buildings without incurring penalties thereby facilitating efficiency and cost savings throughout its estate.
Ben Silcock, Agent at LSH, commented: “All of the properties are well located in terms of road communications and proximity to the town centres. In our opinion, they present a fantastic opportunity for anyone wishing to convert them to alternative uses such as residential under the permitted development rights. Given the strong level of demand for housing across the North of England, we do not anticipate they will be on the market for very long.”
Steven Wood, Development & Disposals Manager at Telereal Trillium, added: “These properties are the latest in a series of DWP leases which have come to an end under our management agreement. A number of additional surplus properties will be brought to the market in the near future and we look forward to working with LSH in disposing of them.”