News & insight

Prime investment sold in Wakefield

Marketing / 20 Feb, 18

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.”

Topics: News

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