West Yorkshire warehouse sold for more than £3m

A 66,896 sq ft distribution warehouse in Wakefield has sold for “well in excess” of the £3m guide price, agents on the deal have said.

Unit K at Wakefield 41 Industrial Park was sold by Leeds-based property consultancy Sanderson Weatherall with Matthew Edwards of Ryden acting on behalf of the purchaser.

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

Jonathon White, partner in Sanderson Weatherall’s 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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