Acting on behalf of Wilton Developments, CBRE’s Leeds Industrial Agency team has leased the 135,000 sq ft Latitude 135 industrial unit near Wakefield, West Yorkshire to leading Scottish logistics company, Malcolm Group.
Malcolm Group has taken a 10 year lease on the 135,000 sq ft Latitude 135 at a rent of £4.55 per sq ft. CBRE acted for Wilton Developments alongside Carter Towler and LSH and Pollock Property Advisors represented Malcolm Group.
Headquartered in Scotland, Malcolm Group provides logistics services – Malcolm Logistics and Malcolm Rail – including road and rail transport, warehousing and terminal management across the UK. Other group activities include a construction and civil engineering division. The leasing of Latitude 135 will provide the successful firm with its first permanent base in Yorkshire and represents a significant investment into the region.
Latitude 135 is located within Latitude Park, just off Junction 31 of the M62, and is widely regarded as one of the major distribution hubs in the North of England. The Park is an extension to the acclaimed Wakefield Europort which provides daily rail access to Europe via the channel tunnel and boasts high profile occupiers such as Asda, Argos, DHL, and TKMAXX.
Malcolm Group’s new base comprises a 131,109 sq ft warehouse with 4,153 sq ft of offices. Wilton Developments also own a further 4 acres adjacent to the site which could accommodate approx. 60,000 sq ft.
Mike Baugh, Senior Director of Industrial Agency at CBRE Leeds, comments; “The letting to Malcom Group is one of the largest industrial transactions to complete within West Yorkshire this year and signals incredibly positive news for the regional logistics sector. High take-up levels last year led to a shortage of quality, ready-to-occupy stock and as a result, units such as Latitude 135 have been in high demand.”
Norman Pollock, Director at Pollock Property Advisors, continued; “With the M1 intersection, A1(M) and M18 all under five miles away and Wakefield Europort next door, Latitude 135 provides the excellent connectivity that Malcolm Group was looking for. The quality of the unit offers the right level of presence for the leading firm and we are delighted to have assisted their permanent move into Yorkshire.”
Jason Stowe, Managing Director of Wilton Developments, added; “We always felt that Latitude 135 had all the right components to attract inward investment into West Yorkshire and to have secured a 10 year lease to such a respected logistics operation is an excellent result.”
