CBRE’s Leeds Capital Markets team has completed the acquisition of a trio of Industrial assets in Yorkshire on behalf of Mileway for £6.4M. One multi-let estate and two single-let assets located in Bradford and Sheffield have been acquired from In-site Property Solutions, a family-run property company based in Wetherby, advised by Lambert Smith Hampton.
The industrial portfolio includes South Bradford Trading Estate on Brighouse Road, Bradford; Junction 34 on Greasbro Road in Sheffield and Green Park, Wharfedale Road on the Euroway Industrial Estate in Bradford. The portfolio extends to 75,500 sq ft and benefits from full occupancy to eight different tenants.
All three assets have undergone refurbishment projects over the last 12-18 months and benefit from being positioned in strong industrial locations, where occupier demand is strong and there is an opportunity to benefit from continued rental growth.
Henry King, CBRE Capital Markets team in Leeds, commented; ‘This portfolio provides our client with a trio of well-located industrial assets, which are currently fully-let and providing an attractive and diversified income stream. We believe the assets are perfectly positioned to take advantage of favourable market dynamics moving forward.’
Scott Morrison, Director at Lambert Smith Hampton commented:
“It is testament to our client, In-site Property that they continue to spot industrial opportunities, undertaking substantial refurbishment projects and perfectly executing their asset management and exit strategy. We are delighted to have advised, let and sold on this portfolio alongside their other retained agents.”
LSH acted as agent for In-Site Property Solutions Ltd and Langleys acted as solicitors in the sale of the portfolio.