Commercial property let to transportation and storage company

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Fine art transportation and storage specialist, Jayhawk Ltd has let a 29,326 sq ft industrial/warehouse unit at Willowbridge Way, Castleford, on a five-year lease.

Avison Young acquired Unit 5 within the Willowbridge Business Park on behalf of its client Panacea Investment Group Ltd in February this year and subsequently let it within a few months.

Jayhawk originally enquired about the site in May, however, viewings were unable to take place until June due to lockdown restrictions.

Jake Pygall, associate director at Avison Young in Leeds said: “This transaction began during the height of the pandemic and it highlights the strong continued demand for good quality, well located industrial/warehouse units.

“The market in this sector has not slowed down due to the effects of COVID-19, if anything, it has increased demand.

“Industrial/warehouse stock remains low, which has led to further increases in net rental gains for landlords.”

Dan Summerfield, investment director for Panacea Investment Group, added: “The acquisition of this unit and subsequent letting demonstrates our belief that this asset class remains both robust and attractive.

“We are working on further opportunities in the mid-box industrial property sector to build our portfolio and execute our mixed asset management strategy for the long-term benefit of our Investment group.”