Developer instructs agents on prime Wakefield scheme

WILTON DEVELOPMENTS has instructed agents to launch the next phase of its Latitude Park scheme in Wakefield, Latitude 2.

The move follows the success of Latitude 135 which culminated in one of the largest Yorkshire industrial deals of 2014.

In December, the developer sold the 135,000 sq ft distribution unit in Wakefield to Mayfair Capital for £9.3m.The sale followed CBRE’s letting of the unit to Scottish logistics firm Malcolm Group on a ten-year lease in November.

Latitude 2 is a four acre prime site with outline consent for B1, B2 & B8 industrial/ distribution uses.

Mike Baugh, senior director of industrial agency at CBRE Leeds, said: “The letting to Malcolm Group in November to secure a 10 year lease at Latitude 135 was pivotal in Wilton Developments securing a sale and it is the next logical move to launch Latitude 2 to market. Our research has previously highlighted that the M62 corridor is one of the main areas where there is a real shortage of quality industrial stock and occupiers are looking at prime sites such as this where they can create built-to-suit accommodation.”

Jason Stowe, managing director of Wilton Developments, added: “The letting and subsequent sale of Latitude 135 demonstrated the whole park’s profile and with a genuine renewal of buoyancy within the regional industrial market, we are positive that the time is right to launch this next phase.”

Carter Towler and Colliers have also been instructed along with CBRE.