Industrial estate sold in multi-million pound deal

A YORKSHIRE industrial estate has been sold in a multi-million pound investment deal.

Leeds 27, on Bruntcliffe Industrial Estate in South Leeds’ industrial heartland, has been sold for just over £16m by Jones Lang LaSalle on behalf of F & C REIT Asset Management.

Comprising seven detached warehouse units, totalling 331,873 sq ft, the estate has been acquired by InfraRed Capital Partners, represented by Woolhouse Real Estate. It is multi-let to six tenants.

Andrew Summersgill, director in Jones Lang LaSalle’s Leeds-based investment team, said: “Investor interest remains strongly focused on well-located prime and good secondary industrial stock as evidenced by the sale of Leeds 27 which is in situated in an established commercial location. 

“Investors also recognise a gradual improvement in occupational demand for the right properties and the fact that there is dwindling supply in certain size ranges, partly due to a lack of development throughout the recession.”