Investor swoops for 176,000 sq ft warehouse

A 176,000 sq ft distribution unit which was occupied by TK Maxx in Castleford has been snapped up for an undisclosed sum.

Scarborough-based property investor Broadland Properties has completed the acquisition of Wakefield 31 at Wakefield Europort.

The building has just undergone refurbishment and is available immediately for occupation.

Gidon Amar of Broadland Properties said: “We felt this was too good an opportunity to miss. The M62 corridor in Yorkshire continues to be a prime logistics location with the M1 and the A1 close by, allowing companies to reach over 70 per cent of the population within a 4.5hrs drive time. We are confident that the location and quality of the property will attract a great deal of interest from potential occupiers.”

Iain McPhail, partner in the Knight Frank Industrial team in Leeds, who advised Broadland on the purchase, added: “The property is one of the largest available warehouse units in the region and offers occupiers a high-quality product which is already fitted out internally with warehouse lighting, heating and a sprinkler system significantly reducing initial set up costs to an incoming tenant.”

Rob Oliver, director of industrial agency at GVA, who acted for the vendor said: “This is one of the most significant industrial deals to complete in Yorkshire this year. The region continues to be popular with occupiers and investors alike and this sale underlines that well-located assets, with potential for quality tenants, will always prove attractive.”

The Leeds offices of Knight Frank and GVA have been appointed to market the property on behalf of Broadland Properties.

Gent Visick undertook the acquisition building survey and Weightmans acted as purchaser’s solicitor.