300,000 sq ft distribution complex acquired in off market deal
Acting on behalf of EP Properties, Aherne Property Consultants has acquired the 300,000 sq ft former McBride manufacturing and distribution complex on Rook Lane, Bradford.
The complex comprises two modern buildings on a 14 acre site.
The new owners plan to refurbish the buildings before bringing them to the market.
Production at the site ceased earlier this year having been relocated to Lancashire, and the buildings are currently being decommissioned.
EP Properties says it was able to acquire the property unconditionally, as the vendor vacated the site leaving no residual liabilities.
Arif Patel, property director of EP Properties (part of the EP Group), said: “Being specialists in the development and refurbishment of industrial complexes this opportunity is a great fit to our expanding portfolio.
“We are one of the largest landlords of industrial in the North West and this is one of many recent acquisitions of this asset class reflecting our confidence in the sector.”
Andrew Aherne, of Aherne Property Consultants, added: “Notwithstanding current uncertainties in the market, the industrial and logistics sector remains strong and this site will be able to offer good quality space on economical terms in a location where there has been a limited supply.”
Property consultants Preston O’Herlihy acted for the vendors, Royal Sanders.
Brendan O’Herlihy said: “Our client, Royal Sanders, having transferred the Bradford business to Preston wished to sell the property.
“EP Properties came forward and performed well, meeting their required timescales in what are exceptional times.”