Maybrook Industrial Park sells for £5m
MAYBROOK Industrial Park in Leeds has been sold for £5.1m to Larfarge UK Pension Fund.
Maybrook was built in the early 80s has comprises of 13 units totalling around 110,000 sq ft.
The estate is fully let with companies such as Brake Bros, Clear Channel UK and Just Car Clinics Group among the list of tenants.
DTZ managed the sale on behalf of Phoenix Life c/o Ignis Asset Managment.
James Lawlor, senior investment surveyor at DTZ, said: “Through somewhat difficult market conditions DTZ is delighted to have successfully completed this disposal.
“The strong asset management programme that had been implemented by DTZ and Ignis during the lead up to the sale allowed us to maximise the price. This disposal demonstrates that investor demand does exist for good quality assets where they are priced correctly. “
This is the second deal Phoenix Life has recently completed in the North.
It follows the disposal of Lakeside 5000, the global HQ of Umbro, at Cheadle Royal Business Park, South Manchester for £8,7m. DTZ again advised Phoenix Life.
Christopher Dee advised the purchaser Lafarge UK Pension Fund.
