Prime investment sold in Wakefield

Published on: 20th February 2018

A 66,896 sq ft distribution warehouse in Wakefield sold for well in excess of the £3,000,000 guide price.

Unit K at Wakefield 41 Industrial Park was sold by our Leeds industrial agency team with Matthew Edwards of Ryden acting on behalf of the purchaser.

The property is let to Prostar Sports Ltd on a 10-year lease, at a passing rent of £250,000 pa with just over two years term certain remaining.

Jonathon White, partner in our industrial agency team, commented: “We received significant levels of interest in the property, due largely to its high quality and desirable location in one of Yorkshire’s prime logistics hubs. The price achieved reflects a very keen net initial yield, in part due to the strong potential for rental growth at lease expiry.

“The level of intent received demonstrates the quality of Yorkshire’s industrial property market and in particular the investment market which continues to go from strength to strength.”

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Industrial Agency

Sanderson Weatherall’s team of expert industrial property agents provide specialist advice on the sale, acquisition, development, leasing and funding of industrial property across the country. With an in-depth understanding of the UK Industrial sector, including the logistics sector, and the factors that affect it, as well as extensive knowledge of the local and regional markets they deal in, the team offers pro-active market intelligence on emerging trends and opportunities for industrial property owners and occupiers alike. A large and varied client base includes investors, developers and occupiers. The specialism is supported by a broad range of additional services within the business. We act on behalf of manufacturers, logistics operations and financial institutions by offering strategic market advice on mixed use schemes, distribution, break ups, portfolios and single buildings. Contact Us

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Sanderson Weatherall’s team of expert industrial property agents provide specialist advice on the sale, acquisition, development, leasing and funding of industrial property across the country.

With an in-depth understanding of the UK Industrial sector, including the logistics sector, and the factors that affect it, as well as extensive knowledge of the local and regional markets they deal in, the team offers pro-active market intelligence on emerging trends and opportunities for industrial property owners and occupiers alike.

A large and varied client base includes investors, developers and occupiers. The specialism is supported by a broad range of additional services within the business.

We act on behalf of manufacturers, logistics operations and financial institutions by offering strategic market advice on mixed use schemes, distribution, break ups, portfolios and single buildings.

Contact Us

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Leeds office market update Q4 2017

Download our Leeds office market update Q4 2017 2017 was a record breaking year for Leeds city centre office take-up, which totalled 1,014,615 sq ft across 141 office transactions - the first time the million sq ft mark has ever been reached in the city. The public sector hub deal, which saw the UK Government pre-let 380,000 sq ft at Wellington Place for HMRC and NHS Digital, was the largest office deal of the year in Leeds, and one of the single largest lettings outside of London.

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Download our Leeds office market update Q4 2017

2017 was a record breaking year for Leeds city centre office take-up, which totalled 1,014,615 sq ft across 141 office transactions - the first time the million sq ft mark has ever been reached in the city.

The public sector hub deal, which saw the UK Government pre-let 380,000 sq ft at Wellington Place for HMRC and NHS Digital, was the largest office deal of the year in Leeds, and one of the single largest lettings outside of London.

[fulltext] =>

Richard Dunn, head of office agency and spokesperson for LOAF, said: “With total Leeds city centre take-up surpassing full year transactional levels seen in Birmingham, Bristol and Glasgow last year, this activity reinforces our city as a major office location outside of London.”

Strong demand from serviced office sector operators resulted in a number of deals during 2017, including Regus at Pinnacle (10,200 sq ft), Co-working space at 10/12 East Parade (30,527 sq ft), Tech Hub at Platform (c. 30,000 sq ft), Our Space at Yorkshire House (12,750 sq ft) and Wizu taking 9,500 sq ft at The Leeming Building. The professional services, TMT and financial services also remained very active, with occupier demand continuing to be focussed on new-build, Grade A space, as demonstrated by the 50,000 sq ft of new lettings at Central Square during Q4.

During Q4 of 2017, Leeds office market take up totalled 268,247 sq ft, reflecting a 48% increase on Q4 2016.

In the city centre, take up totalled 216,893 sq ft across 43 transactions. The largest deal of the quarter saw Leeds Building Society acquire 80,654 sq ft at Sovereign House.

Leeds out of town take up stood at 51, 354 sq ft across 25 transactions. The principle transactions of the quarter were the 7,085 sq ft letting at Stockdale House in Headingley Office Park to NHS, and Priestley Homes’ purchase of the 7,856 sq ft Shepherd House at Elland Road.

For more information on the Leeds office market please contact Richard Dunn or Dom Towler.

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Ongoing success at Malton Enterprise Park

Malton Enterprise Park has gone from strength to strength in recent months as several of the existing units have been sold, let or are currently under offer. Most recently the park has welcomed major national trade counter brand, Screwfix, who have leased a 4,000 sq ft unit. The enterprise park is located just off the A64 on the outskirts of Malton, North Yorkshire and is a phased development, with speculatively built units continually being released. Owned by Harrison Developments Malton LLP the park offers a combination of industrial, office, trade and warehouse accommodation, with the phased development enabling units to be custom built with bespoke fit-out options to meet occupiers specific requirements.

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Malton Enterprise Park has gone from strength to strength in recent months as several of the existing units have been sold, let or are currently under offer. Most recently the park has welcomed major national trade counter brand, Screwfix, who have leased a 4,000 sq ft unit.

The enterprise park is located just off the A64 on the outskirts of Malton, North Yorkshire and is a phased development, with speculatively built units continually being released. Owned by Harrison Developments Malton LLP the park offers a combination of industrial, office, trade and warehouse accommodation, with the phased development enabling units to be custom built with bespoke fit-out options to meet occupiers specific requirements.

[fulltext] =>

Sean Harrison, managing director at Harrison Developments Malton LLP said, “We are pleased to see the site continues to attract attention from a range of occupiers. Designed with the occupier in mind, we are able to accommodate businesses of all sizes at Malton Enterprise Park. Spaces available range from 1,000 to 100,000 sq ft and are constructed to the highest specification with modern features throughout.”

Jonathon White, industrial agent in our Leeds office commented, “With a number of recent sales and several units currently under offer, Malton Enterprise Park is really establishing itself as a desirable business location.

“Most recently we completed the letting of 4,000 sq ft to Screwfix. The unit is Screwfix’s first Malton store, which is a real boost to the local economy and has sparked a number of conversations with other national brands looking to move to Malton Enterprise Park.

“We are still able to accommodate a variety of occupiers at the business park and would be interested in speaking to potential occupiers about the remaining units.”

We are joint marketing agent on the park alongside York-based McBeath Property Consultancy.

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