Buyer snaps up 66,000 sq ft logistics warehouse
West Yorkshire-based developer and commercial property company Onward Holdings has sold its newly completed 66,000 sq ft speculative warehouse in Featherstone, branded Phoenix 66, to a confidential party.
The new owner has taken delivery of the keys to the high bay logistics facility on the Green Lane Industrial Estate off Junction 31 of the M62, which will be the maintenance hub for its fleet of HGV vehicles.
Acquiring the warehouse will allow the new owner to relocate and upgrade its operations from its existing long-standing operational site located near the centre of Wakefield.
The detached unit extends to around 66,923 sq ft, including first floor offices and allows the occupier the flexibility to extend into a further 3,207 sq ft of additional second floor accommodation.
Phoenix 66 forms part of the significant made investment by Onward Holdings in the Green Lane Industrial Estate over the past few years.
Neil Storey, director of Onward Holdings, said: “We are thrilled to have helped the occupier find the right property for its operational needs.
“Phoenix 66 is a quality unit in a prime location that offers excellent facilities and transport links.
“We are looking to acquire other sites that will help address the current shortage of quality logistics facilities in the region.”
Iain McPhail, Partner at Knight Frank and Andrew Miller of Andrew Miller Chartered Surveyors advised Onward Holdings.
McPhail said: “We are proud to have been involved as part of the team on this exciting project from start to finish.
“It just shows the importance of getting the specification right on a new build unit and Phoenix 66 delivered a truly institutional opportunity to the market.
“We are also encouraged that the Yorkshire industrial and logistics market continues to perform, even during these unprecedented times.”