Finance group moves into history house

The grade two listed building, which dates back to about 1760, on Town Street in Horsforth, Leeds, is undergoing a £100,000 refurbishment to turn it into offices for independent financial advisers Baxter Fensham.

The company, which bought the building off an asking price of £295,000, moved in a week ago and is in the middle of a six-week project on the interior of the building, which will also restore some of the original features.

Karl Lavery, director and financial planner at Baxter Fensham, said: “We were previously based in temporary premises in nearby Orchard House but we wanted a permanent home that reflected us and the quality of work we do.”

The work involves rewiring, new heating and hot water systems, new lighting as well as restoring a tiled Edwardian floor, the original staircase and a 78ft arch window. “We wanted to keep the character of the building,” Mr Lavery said.

The house was originally built, in what was then a largely rural area some four miles from the city, by a Leeds merchant for his divorced daughter.

David Quick, chairman of the property committee and trustee of the Grove Methodist Church which sold the building to Baxter Fensham, said: “It appears that the daughter got married and divorced in a short space of time. In an effort to save face, her father had the house built so she could live out-of-town in relative solitude and not be subject to the gossip he was anxious about.”

He added: “She lived there with her housekeeper and the house was specifically designed for that purpose. It has a back staircase that would have been used for access as well as a scullery and kitchen.”

The Methodist Church bought the house in about 1865 and built the Grove Methodist Church in the grounds in 1867. The original house, renamed The Grove Manse, then became the home for the minister. As the minister is now responsible for several churches and lives off site, the property is no longer of use to the church.

Mr Quick added: “It’s a beautifully-designed Georgian suburban house, which still has many original features both internally and externally. It would have cost a reasonable amount by the standard of the day but not excessively expensive.”

It was granted a change of use by the planning authority as it is surrounded by commercial properties and was not deemed appropriate to remain a residential building.

Tim Rhodes, a partner at Carter Towler, which sold the building on behalf of the Methodist Church, said: “There was tons of interest but Baxter Fensham were the first people to commit to the property. A sale was agreed within a month of the building going on the market, which is rare in the current environment.

“To buy an effective freehold property just off Town Street in Horsforth is almost unheard of. Add to that the character of the building and it’s a very attractive proposition to a lot of people. It’s a quiet location but convenient for everything.”

The double-fronted grade two listed Georgian building, which comprises 3,200 sq ft, includes a ground floor with three separate offices, kitchen facilities and toilets. The first floor provides four further potential offices and on the second floor additional studio, office or storage space. There are additional basement storage facilities.

About 1,950 sq ft of the space is usable now with scope for a further 700 to 800 sq ft with a loft conversion at a later date.

The move comes ahead of a rebranding and expansion of Baxter Fensham, which employs 11 staff and has a turnover of £1m. The company underwent a management buyout five years ago and subsequently moved to temporary accommodation.

The company plans to launch a new division to diversify the business, which was established in 1996 and specialises in financial planning, tax planning and mitigation and wealth management.

Mr Lavery said the new operation, the nature of which has not yet been revealed, would see the business increasing its turnover by 20 per cent a year over the next five years. “We expect to start seeing the benefits after about six months,” he said. “Our profitability is very good and we don’t want to jeopardise that so we will steadily build the turnover. We expect our profit margins to remain largely constant as a percentage.”

A puzzling extension

The former Grove Manse in Horsforth includes a curious addition or extension to the building. The roof of the extension was built across an existing window.

David Quick, chairman of the property committee and trustee of the Grove Methodist Church, said: “That was such an ugly way of doing it, it suggests to me that it must have been the owner of the house who did it because they would have resisted anyone else doing it.”

He added: “It makes me wonder if the original occupant, the daughter of the merchant who built the property, was set up in business in some way and used these premises fronting on to Town Street, possibly using some of her inheritance after her father died.”