Investor snaps up 80,000 sq ft scheme on former college site
A London-based investor has swooped for a 78,836 sq ft trade counter development built on a former college site on Roundhay Road in north Leeds.
The seven-unit scheme has been acquired by investment manager St Bride’s Managers for their St Bride’s Key Cities Partnership for a sum understood to be in excess of the £9m guide price.
The former Thomas Danby College site was originally acquired in 2015 by Leeds-based property developer Bridge Estates and redeveloped to create seven trade counter units ranging in size from 2,593 – 35,016 sq ft.
College Trade Park reached practical completion in December.
Six of the units have already been let to occupiers including Selco Trade Centres, Edmundson Electrical, Topps Tiles, Screw Fix and Tool Station.
St Bride’s partner Ian Houston said: “Leeds is one of five cities outside of London that we have identified as key investment locations for us because of the excellent long-term growth prospects. The quality of the scheme, long term income and tenant profile made this an excellent fit for the partnership.”
Carter Towler’s managing director Ian Greenwood said: “Our client, St Bride’s was very keen to add this development to their property portfolio because of its fantastic location and the calibre of businesses that have already chosen to locate here. There is nothing available like this in the Leeds’ area and hence the unprecedented interest in acquiring the development.”
Richard Brooke of Cushman & Wakefield added: “The successful conclusion of this forward commitment just goes to highlight the strength of demand that there is for prime industrial investments in the region. This was a particularly enjoyable acquisition to advise on, the quality of the development makes it a standout transaction for the Leeds market.”
