£2.51m deal to acquire industrial properties
Peloton Real Estate, on behalf of private clients, has acquired two detached industrial warehouse units in Castleford, Wakefield, for £2.51m.
Located on Speedwell Road, close to Junction 31 of the M62, the units which total about 30,000 sq ft are let to two long-standing tenants and provide a weighted average unexpired term of approximately three years (to breaks).
Nick Okell, director of Peloton Real Estate, said: “We’re delighted to complete the purchase of these two prime industrial units.
“They perfectly demonstrate our strategy to acquire well let, last mile/urban logistics assets with asset management opportunities in the short to medium-term.”
Richard Brooke, partner at Cushman & Wakefield, who advised Peloton Real Estate on the acquisition, said: “This deal demonstrates sustained investor appetite for well-located assets with strong underlying property fundamentals.
“The investment generates a good income return from day one, whilst providing a number of potential asset management initiatives to explore in the future.
“We are pleased to have been able to work alongside Peloton Real Estate on another deal in Yorkshire.”