Sheffield warehouses dominate off-market deal
NETWORK SPACE, the privately owned investor, developer and manager of commercial property, has acquired a trio of industrial buildings from a UK Fund Manager in an off-market deal worth more than £6.5m.
Parkway One, Sheffield is a 61,000 sq ft warehouse let to national pharmaceutical distributor Mawdsley’s. Also in Sheffield, is German steel giant Zapp’s 21,000 sq ft warehouse at Thorncliffe Distribution Park. The third is a 22,500 sq ft distribution centre occupied by DHL at West 26 Business Park, Cleckheaton.
Martin Mellor of Network Space said: “We are delighted to acquire three modern, well-let industrial buildings in close proximity to the M1 and M62. Their age, specification and location make them a perfect complement to our existing £110m portfolio.”
Network Space was represented by Nick Wales of Knight Frank, who said: “This deal demonstrates the continued strength of investor demand for good quality industrial property in the Yorkshire region.”
Network Space retains an investment portfolio totaling nearly 3m sq ft, the majority of which has been self-developed in the last 15 years. The company continues to grow its portfolio by investment acquisitions and development of its land bank, with a further 1.9m sq ft of new-build industrial space currently being brought forward.
