Leeds-based property consultancy Dove Haigh Phillips (DHP) has brokered two significant industrial property deals on the M62 corridor in West Yorkshire.
DHP advised Boxford on the sale of Boxford House at Elland to a Jersey-based investor and also Halco Brighouse on the lease of its 60,000 sq ft headquarters at Armytage Road Brighouse to emergency vehicle specialist Venari group.
The Jersey Investor based paid a figure well in excess of the £3.9 million asking price for the 50,727 sq ft Boxford House, which has subsequently been let to St Gobain.
“This was a notable West Yorkshire double for us,” said DHP partner Mike Haigh. “Not only did but we sell Boxford House on behalf of mechanical engineers Boxford, but we represented tool manufacturer Halco Brighouse on the transfer on their lease at Armytage Road.
“Following on from these deals, we then acquired smaller premises for both Halco Brighouse and Boxford in West Yorkshire. These deals suited all parties perfectly, reflecting the confidence in the industrial property sector in West Yorkshire, as well as in the region’s economy.
He explained: “These deals also underline that the M62 corridor is now one of the hotspots for industrial property in West Yorkshire, providing swift access to both the East Coast and the West Coast ports, as well as linking in to the UK’s superb motorway network.
“We were especially delighted with the price achieved for Boxford House in Elland. There were a number of parties interested in the building, which finally resulted in the investors acquisition,” he said. “This was one of the highest freehold sales for second-hand industrial premises in the region during the past year.”
DHP partner Simon Dove explained the Venari Group was launching a new manufacturing facility on its new Brighouse site, creating 70 specialist engineering and coachbuilding jobs.
Following an investment of £4m, the new Brighouse headquarters will allow Venari to expand into wider emergency services and security markets in the UK and globally.
Mr Dove explained: “This is a quality industrial unit, with more than 8,000 sq ft of excellent office facilities. The site will provide the perfect platform for Venari to expand, creating sustainable jobs which will boost the economy of the surrounding area.
“When we put the building on the market, there was serious interest immediately, due to its quality and to the lack of supply in the immediate area.
“The location is superb between Armytage Road and Wakefield Road, immediately to the west of Junction 25 of the M62. It is within an established industrial estate with nearby occupiers including Clipper Logistics, British Car Auctions and Northern Commercials.
The expansion of Venari into West Yorkshire is designed to create a lean, sophisticated manufacturer which will leverage the specialist skills that the region has to offer within the niche vehicle sector.