Town Centre Securities in £4.5m industrial acquisition

TOWN CENTRE SECURITIES has acquired three industrial warehouse units in Leeds for £4.48m.

The units at Waterside Business Park, a multi-let industrial estate in Stourton, Leeds have been acquired from clients of CBRE Investors.

Tenants include SW Group Logistics limited, European Stock Solutions Limited and Daniels Chilled Foods Ltd.

The units are detached industrial warehouse buildings totalling 77,400 sq ft.

TCS has also announced contractors for pre-construction on its 170,000 sq ft development for Leeds City Council, as well as progress on the multi-million Morrisons refurbishment in the Merrion centre which is scheduled to be completed by summer this year.

Edward Ziff, chief executive, said: “We are delighted to have acquired three high quality units at Waterside Business Park.

“This acquisition, our first in the industrial sector for a number of years, is a logical and complementary diversification of our existing portfolio. The site is in a strategic position, let to high quality tenants with excellent access to key routes.

“Following our new 25 year lease agreement secured last year with Leeds City Council, we are making strong headway with our refurbishment and extension plans at Merrion House with pre-construction services currently underway.

“We have also been working closely with Morrisons on its lease renewal and expansion plans at the Merrion Centre.

“I am delighted that they have chosen to invest in the store which will benefit shoppers and complement our continuing investment in the Merrion Centre.”