Spinksmire Mill, an historic 19th century woollen mill in Meltham, near Huddersfield, has been sold in a deal close to the asking price of £1.5 million.
The mill, which was owned by Quarmby & Sykes (Holdings) Ltd, has been acquired by Holmfirth-based SDC Enterprises, the wholly-owned trading subsidiary of the charity of the Society of Dyers and Colourists.
Mike Haigh, of leading Leeds property consultancy Dove Haigh Phillips (DHP), who advised the vendors, said: “This is an excellent investment. The old mill site extends to nearly 10 acres with superb short-term and long-term development potential.
“It is an income-producing industrial complex with an annual rent roll of nearly £100,000 with seven separate tenants. The mill is also well-located, just half a mile from the centre of Meltham, offering easy access to Holmfirth, Honley and Huddersfield, as well as the greater West Yorkshire conurbation and beyond.
“The premises comprise the main developed mill section along with yard areas and car parking. There is a mill pond which feeds Meltham Dyke running through the site, which will suit the buyer. The remainder of the site is currently open grazing land with further development potential.
“The 56,474 sq ft complex comprises a series of stand-alone and interlinking industrial units, which are of both single storey and two storey construction. These have been divided to form a number of mainly self-contained units in multiple occupation,” explained Mr Haigh.
“The combination of an excellent location, development potential and a strong income stream proved a winner,” he added.
SDC were attracted to the site because of the textile connection and one of the tenants Northern Dyers, who occupy more than 22,000 sq ft there.
Other tenants include Holmes Heaton Print, David Brown Tractor Club Ltd, Lightowler Yarn Ltd, T S Fabrications and Candleberry Europe Ltd. There is one 2,185 sq ft three-storey stone building which is vacant