THE Huntingdon Jobcentre building has changed hands – but there are no plans to close or move the facility.
Acting on behalf of Howard (Properties) Ltd, property agents Barker Storey Matthews, based in the town’s High Street, have negotiated the sale of the 4,850 sq ft two-storey office building in Hartford Road in Huntingdon. The Jobcentre’s lease expires in April 2018.
BSM’s Alan Matthews said: “The current rent is £48,500 per annum exclusive, and the property sold at a figure of £660,000, representing a net initial yield to the purchaser of 6.9 per cent. It is unusual to see a yield of below seven per cent on a property with less than seven years remaining on the lease, but the price paid reflects the strength of occupational tenant”.
Howard has owned the building for the past 25 years. The Jobcentre was opened by then Huntingdon MP [later Sir] John Major in 1980, shortly after he was first elected to the constituency.
Mr Matthews said the change of ownership had no bearing on the future of the Jobcentre.