Unique Opportunity to Acquire High Spec 2 Bedroom Modular Accommodation Units

Sale Type:

Private Treaty

Offer Deadline:

Thursday 14 December 2023, 10:00am GMT

Location:

Various Locations:
Hertfordshire, Hampshire & Buckinghamshire, UK

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Hugg Homes Limited – In Administration

Hilco Valuation Services is seeking offers to purchase 74 x 2 bedroom ‘Hugg Homes’ modular housing units, located in Hertfordshire, Hampshire and Buckinghamshire in the UK.  Offers are invited for all or certain units.

The housing modules comprise 38m2 (409 sq. ft) and are designed for temporary / semi-permanent accommodation with a focus on design and sustainability.

Each Accommodation Module Features:

• Floor area: 38m2/409 sq. ft
• 2 bedroom, 1 shower room and common area
• Each unit with kitchen and and electric radiators
  • Building Regulation Compliant*
  • BBA Certified – Minimum 60 years
  • EPC Rating – C
  • Thermal Insulation Compliant to Building Regulations*
  • Acoustic Insulation Compliant to Building Regulations*
  • Power Supply – All Electric
  • UK Manufactured and Fit Out
  • PVC Windows and Doors
  • Transportable

* We understand that all occupied units were Building Regulations compliant when constructed, but if moved to a new location, they may not comply with the 2022 part 0 regulation in relation to mechanical ventilation systems

Vacant Units Available Immediately:

• 16 x 2 bedroom Hugg units (comprising 15 x unused units and 1 x unit historically used as a marketing suite), 1 x 9 compartment storage unit, 1 x 7 compartment storage unit, 1 x double door bike shed. Located in Cheshunt. All manufactured by Thurston Group. Year of manufacture 2022 (15 x units).
• 4 x 2 bedroom Hugg units in Old Beaconsfield, Buckinghamshire, 1 of which contains 4 x storage units and 1 x double door bike shed. Year of manufacture 2019. These are first generation units that are currently used as site offices/welfare (to be sold vacant)
• 1 x vacant ‘Inland Homes’ marketing cabin located in Hounslow. 25.6m x 7.2m, previously arranged as an open plan office / sales area and a 3 bed show flat.

Tenanted Units

Available Immediately as Income Producing Investments, or from April 2024 Following Tenants Vacating

Southampton:

22 x tenanted two bedroom modular housing units with multi-compartment storage units and bike shed, manufactured in 2019 by Thurston Group, producing £181,943 pa, let as follows:

•  6 x 2 bedroom units let to Southampton City Council under the terms of a lease expiring 19^th February 2026 (6 month break option can be exercised from Dec 23), at a rent of £48,420 pa
• 16 x 2 bedroom units let on Assured Shorthold Tenancies (ASTs) producing rental income of £113,523 pa. ASTs expire on various dates, latest May 2024

Cheshunt:

32 x tenanted two bedroom modular housing units, manufactured in 2019 by Thurston Group, with 2 x 9 compartment storage units and 2 x 7 compartment storage units and 1 x double door bike shed, let to The Council of the Borough of Broxbourne producing £354,232 pa. Vacant possession on lease expiry in March 24.

Offers for the modular units at the above two locations are invited on two bases:

• An immediate licence to occupy the property at nil rent and title to the income producing modular units, or
• The modular units on vacant possession being obtained by the Administrators

Intellectual Property relating to ‘Hugg Homes’ is also available.  Additional information is provided in the Information Memorandum accessed via this page, and in the dedicated data room, to which access will be provided on request.

Note – the Administrators cannot provide any warranties or guarantees in relation to the timing of vacant possession being obtained.