Property investor and developer makes strategic acquisition
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Northern Trust, a family owned private company, established in 1962, with a successful track record in property investment, development and strategic land regeneration has completed the acquisition of a multi-let 312,355 sq ft portfolio in Yorkshire, including 267,655 sq ft of industrial and 44,700 sq ft of offices.
The portfolio includes seven assets with 71 individual units located throughout Doncaster and Barnsley, many of which have been recently constructed, with 45,000 sq ft due to complete in October.
The assets will add c £2.1m pa to the Northern Trust portfolio and means in Yorkshire it has circa 1.2m sq ft across 40 locations.
Tom Parkinson, director at Northern Trust said: “It is not often a portfolio of this quality is brought to the market and we are delighted to expand our offering to the growing SME Yorkshire market.
“We have been expanding our industrial portfolio through new acquisitions and developments with an on-going strategy to acquire and develop quality multi-let industrial assets to support the SME business community. Currently our portfolio supports over 20,000 jobs across the UK.”
This latest acquisition follows on from Northern Trust’s purchase of a 31,000 sq ft estate in the Midlands, two estates in Scotland and a 146,000 sq ft portfolio in 10 assets across the North East.
JLL and Shakespeare Martineau acted for Northern Trust on the acquisition.
James Gooch, partner at Shakespeare Martineau, added “We were delighted to assist Northern Trust in such a large-scale strategic acquisition. In a strong industrial market it’s important that we move quickly with businesses looking to expand their portfolio with new investments. This is the second acquisition we have assisted Northern Trust with this year and we look forward to continuing to help the business with its future growth.”