We are pleased to confirm the sale of a freehold industrial unit at Felnex Road, Cross Green Industrial Estate, Leeds to property investment company MCM Group for an undisclosed sum.
Acting on behalf of Joint Administrators at KPMG, marketing of the circa 38,000 sq ft warehouse commenced in November and following a healthy level of interest and around 30 accompanied viewings including investors and owner occupiers, offers were invited prior to the Christmas holidays.
Neil Bestwick, Partner in our Restructuring and Recovery team commented, “The interest generated in this property is reflective of the building’s refurbishment potential in what is a highly regarded location where a significant number of notable occupiers are now represented.”
Douglas Cranston, Investment Director at MCM Group added “We have been very keen to expand our portfolio geographically and are pleased to now have a foothold in the Yorkshire industrial market. We had identified Pontefract Lane as a location where we wanted to invest and we are looking forward to progressing with a comprehensive refurbishment of the building”
Our Restructuring and Recovery team was assisted by Jonathon White, Partner in our Leeds Agency team. Mark Rowlands in our Machinery & Business Assets team advised the Administrators regarding the business’ chattel assets and coordinated a sale via online auction.