Property investor acquires 15,500 sq ft industrial facility in seven-figure deal
A 15,500 sq ft industrial unit in Castleford, West Yorkshire has been acquired for a seven-figure sum by property Investment Company, Westcourt Group Ltd.
Located on Carr Wood Industrial Estate – adjacent to Xscape Retail Park, the unit shares the Estate with the likes of Jewsons, Yorkshire Windows, Vauxhall and Help-Link.
The unit was purchased in an off-market deal presented to Westcourt by Leeds-based Property Consultants Harvey Burns & Co.
The seven-figure deal was completed within four-weeks and will be offered up To Let in the coming weeks.
Tim Hodgson, director of Westcourt Group, said: “Over the past 24 months, we have seen strong investment interest in commercial property as people seek alternative income streams. This has pushed up prices and compressed yields.
“However, there is a strong tenant demand and at Westcourt we are actively seeking to increase our portfolio in this area. We have managed to buy properties quickly and off market and we expect good interest in this latest unit due to its superb location and combined industrial and office space.
“We were recently granted planning permission to build two small industrial units in Armley near the Gyratory and we anticipate building these and bringing them onto the market in 2019. We also remain active in the residential market and Westcourt Homes has recently brought our new development of houses in Farsley onto the market for sale.”
Lyndsay Burns, managing director of Harvey Burns & Co, added: “Westcourt have purchased this property as part of their strategic plan to increase their industrial portfolio, managing to purchase the property in an off-market transaction.
“Westcourt have a reputation of performing quickly on acquisitions and exchanged and completed this transactionwithin four weeks. Harvey Burns & Co. look forward to letting the premises on Westcourt’s behalf and are confident of securing a tenant in the very near future.”
