Following the success of Latitude 135 which culminated in one of the largest Yorkshire industrial deals of 2014, Wilton Developments has instructed CBRE, Carter Towler & Colliers to launch the next phase at Latitude Park in Wakefield, Latitude 2.
In December 2014, Wilton Developments sold the 135,000 sq ft Latitude 135 distribution unit in Wakefield to Mayfair Capital for £9.29m.The sale followed CBRE’s letting of the unit to Scottish logistics firm Malcolm Group on a ten-year lease in November.
Latitude 2 is a 4 acre prime site with outline consent for B1, B2 & B8 industrial/ distribution uses and presents an opportunity for occupiers looking for well-connected high quality space in the M62 corridor where demand is presently outstripping supply.
Wilton Developments’ Latitude Park is situated in one of the region’s most acclaimed industrial and distribution parks with high profile occupiers such as; TK MAXX, ASDA, DHL, HARIBO, WH MALCOLM and ARGOS all in occupation.
Latitude Park is strategically located adjacent to Junction 31 of the M62 motorway at the heart of the distribution network providing excellent access to the M1, A1 and M18.
Mike Baugh, Senior Director of Industrial Agency at CBRE Leeds, comments; “The letting to Malcolm Group in November to secure a 10 year lease at Latitude 135 was pivotal in Wilton Developments securing a sale and it is the next logical move to launch Latitude 2 to market. Our research has previously highlighted that the M62 corridor is one of the main areas where there is a real shortage of quality industrial stock and occupiers are looking at prime sites such as this where they can create built-to-suit accommodation.”
Jason Stowe, Managing Director of Wilton Developments, added: “The letting and subsequent sale of Latitude 135 demonstrated the whole Park’s profile and with a genuine renewal of buoyancy within the regional industrial market, we are positive that the time is right to launch this next phase.”
