Tenants sought for modern industrial premises
Avison Young’s Leeds industrial and distribution team has bought an industrial/warehouse unit at Willowbridge Way, Castleford, on behalf of Panacea Investment Group.
Unit 5 at Willowbridge Way offers 29,326 sq ft of modern industrial/warehouse accommodation.
It is prominently located close to junction 31 of the M62, and the wider area forms part of one of the largest concentrations of industrial units in the Yorkshire area.
The unit was purchased with vacant possession and is now being offered to the market on a leasehold basis.
The building comprises a high specification warehouse which includes an integral two-storey office space, as well as a mezzanine.
There are several household brand names operating in close proximity, such as Royal Mail, Kuehne and Nagel, Bibby Distribution, Warburtons, and Haribo.
Jake Pygall, associate director at Avison Young, said: “We are pleased to have acquired the building on behalf of our client, who is now looking to re-let the unit.
“It is a great addition to their portfolio and further demonstrates the continued strength of the industrial and distribution sector. We predict strong rental growth within the vicinity and continued high demand.’’
Dan Summerfield, investment director, added: “The structure of Panacea Investment Group allows us to act quickly and invest in quality assets with opportunities to improve returns over the medium term.
“This opportunity is a prime example of a solid asset management strategy deployed in the mid box industrial property sector.”
