Industrial deal hat-trick
THE Leeds office of global property consultancy Knight Frank has completed a hat-trick of industrial property deals in Yorkshire.
The first deal was the sale of a 38,000 sq ft industrial unit at 77 Swinnow Lane, Bramley, Leeds, on behalf of Swinnow Lane Properties.
The unit was bought by Norseman Direct Holdings, manufacturers of trolleys for education, libraries and industry, for in excess of £1m.
The second deal was the acquisition of Unit 2, Dealburn Road, Low Moor, Bradford by the international logistics company Transmec Group.
The 72, 800 sq ft unit was bought for £2.65m. The property was managed by Aberdeen Property Investors.
The final deal was the letting of Unit 6, Marrtree Business Park, Bowling Back Lane, Bradford. The 26,000 sq ft unit is being leased by part of the Co-operative Group at a rental of £3 sq ft from Marrtree Developments, Knight Frank’s client.
Owen Holder, industrial partner at Knight Frank in Leeds, said: “There is no doubt that this is a challenging commercial property market, but these three transactions prove that deals can be done, provided the product, the price and the location are right.
“There are so many doom and gloom merchants around, talking the economy and the property market down, so it is refreshing to buck the trend and unveil some good news.
“Taken together, these deals prove there is definitely life in the Yorkshire industrial property market in these difficult times.
“The region is blessed with a tremendous transport network and a willing and competitive workforce.
“This combination should enable the Yorkshire market to weather this storm and emerge stronger at the end of it all.”
