Buyer found for revamped industrial property

Eshton Group has completed the sale of a prominent industrial unit in West Yorkshire, following major refurbishment works.

The 37,740 sq ft unit, on Astley Way Industrial Estate in Swillington, was acquired by Eshton Group in February 2023. It offers warehouse and office space, along with an oversized yard.

Following the purchase, Eshton Group fully refurbished the building, removing around 6,000 sq ft of mezzanine to rationalise the office space, adding additional shutter doors and improving the interiors with new décor.

The property was sold for a record regional value per square foot for a second-hand unit.

David Aspland, director at Eshton Group, said: “We are pleased to have agreed a sale on this key industrial site in Swillington.

“This area of Leeds has already been pinpointed as a valuable location for occupiers and following our investment and refurbishment works, it is no surprise that this unit attracted such strong commercial interest.”

Carter Towler and Lambert Smith Hampton acted for Eshton Group on the sale.

Scott Morrison, director at LSH, said: “The underlying fundamentals of this building were extremely strong, however, hats off to our client Eshton, who had the vision and gumption to invest and refurbish this unit to a top standard, setting a new headline level for second hand freehold space in Yorkshire.”

Josh Holmes, director at Carter Towler, added: “We are thrilled to have acted on behalf of Eshton Group on the sale.  Astley 31 provides excellent access to major transport links as well as having a low site density, making it a highly attractive asset for the buyer’s expanding operations.

“This transaction highlights the ongoing demand for strategically located industrial properties in the region.”