Industrial estate snapped up for £3.81m

A LEEDS industrial estate has been sold to equity investor Marcol Industrial for £3.81m.

BlackRock, represented by Gent Visick, were the sellers in the transaction involving the long leasehold interest of two buildings in the Cross Green Garth estate; Central and Link.

Located on the Cross Green Industrial Estate, the property consists of nine units, of a combined 108,178 sq ft.

Tenants include YESSS Electrical, GAPP and Skopes, and the estate was fully let at the time of sale.

BlackRock bought the site in 2004, and, in conjunction with Gent Visick, have refurbished and subdivided the buildings and letting any vacant units.

Gidor Amar of Gent Visick said: “The strength of the estate’s location and income profile was reflected in the level of interest received and price achieved ensuring interested parties could see beyond the long leasehold tenure.”

Marcol were represented by Michael Steel & Co.

Andrew Steel of Michael Steel & Co said: “The acquisition was a perfect match for Marcol Industrial’s requirement being superbly located with a number of asset management strategies left to implement and the ability to grow the rents in the short to medium term.”