Property Briefs: Bruntwood; Gent Visick; Torque
BRUNTWOOD has welcomed a new tenant to 14 King Street while Leeds City Council has expanded its office space at Westgate.
The deal have taken the property company’s Leeds portfolio up to its highest level of occupancy in recent years.
14 King Street is now fully let following the move of office interiors company Steelcase Solutions, which signed a lease for 2,642 sq ft on the ground floor.
The Council has also recently expanded its space in West Gate from 27,000 sq ft to 39,000 sq ft, taking the building to full occupancy. This will accommodate one of the council’s departments until it relocates to purpose built premises at Merrion House as part of a wider consolidation.
A third Bruntwood building, West One, is almost fully let following a number of deals in the past year.
The company said it is now focusing more attention on two new developments in the city centre; City House and 3 Sovereign Square.
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ACTING on behalf of a private client, Gent Visick has acquired the freehold interest in Ardane Park, a multi-let industrial estate in Featherstone.
The estate, comprising three modern warehouse units totalling around 24,000 sq ft, was bought for £1.23m reflecting a net initial yield of 8%.
Constructed in 2006, the property is located on Green Lane Industrial Estate.
Gidon Amar from Gent Visick said: “Ardane Park provides an excellent tenant base with strong prospects for rental growth in the future. The units are well specified and provide all of the fundamentals you would expect to see in a modern industrial estate of this size.”
AWS acted on behalf of the vendor.
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LOGISTICS company Torque, which has sites in Leeds and Bradford employing more than 500 people, has acquired a 380,000 sq ft Distribution Centre (DC) at Wakefield, formerly owned by La Redoute.
The new Wakefield DC has the capacity to support Torque in expanding its business, the company said.
Richard Burke, chief operating officer, La Redoute UK, said: “At La Redoute we are very excited about this partnership. We are extremely passionate about delivering great service and Torque is the perfect provider to help us move our logistics services to the next level.
“With Torque taking care of our logistics we can focus on our core business aim of delivering French style to women in the UK.”
Stewart Firth, head of operations, Torque, said: “Continuing our practice of owner operated sites, we are absolutely delighted to open our fifth distribution Centre in Yorkshire where Torque has been operating for 25 years. With Wakefield as part of our site portfolio, Torque now has over 1.8million sq ft of UK warehousing, employing over 800 people, where we can offer a full range of services including imports and exports, end to end service, processing and pick and pack. This expansion is integral to the company’s growth strategy and is also a great opportunity to create jobs within the local area.”
