Office complex bought by investor in multi-million pound sale
Property investment firm Parker & Parker Investments Ltd has taken its first step into the Yorkshire commercial property market, with the acquisition of Woodland Park in Cleckheaton for £4.3m.
Lambert Smith Hampton (LSH) and joint agent G Herbert Banks, completed the acquisition of Woodland Park on behalf of Worcestershire-based Parker & Parker Investments.
The acquisition comprises 31,772 sq ft of modern office accommodation across four two-storey buildings, close to Junction 26 of the M62 motorway.
The offices are fully let to fit out, technology and construction solutions company ISG Central Services Ltd.
G Herbert Banks LLP provided acquisition advice alongside occupational advice from LSH. Cushman & Wakefield acted on behalf of the vendor, a private investor.
Ross Firth, director – office advisory at LSH, said: “This is a great purchase for Parker & Parker Investments to further bolster their commercial portfolio, which they continue to add to with quality assets, such as Woodland Park.
“The acquisition offers a few angles from an asset management perspective and we are delighted to work closely with Parker & Parker going forward.”
Nick Jethwa, of G Herbert Banks, added: “The acquisition of Woodland Park is a strategic purchase for Parker and Parker Investments.
“With an enviable position the accommodation lies adjacent to both open countryside and the M62/M606 junction.”
Chris Parker, of Parker & Parker Investments Ltd, said: “We continue to grow our portfolio with continued investment in prime sites both in Industrial and office.
“We intend to invest a further £10m within the next two years in sites that offer further asset value improvement.”
Connor Rogers, of Cushman & Wakefield, added: “This office park is strategically located adjacent to Junction 26, an area that is due to see a significant level of development activity in the coming months and years, which will further establish this location as a key commercial hub for the region.
“Whilst this sale represents a great result for my client, I am confident the asset will also perform well for its new owners.”
