Lawcris’ former Leeds headquarters acquired by On-Site Property Solutions

On-Site Property Solutions has completed the acquisition of the former headquarters of panel product supplier Lawcris at Cross Green Approach in Leeds.

Formed by industrial property owner and manager In-site Property Solutions, On-site is a new company based at Bramham, West Yorkshire.

On-site will target sites that have the potential to deliver high returns, while looking for opportunities to develop, refurbish or manage existing facilities owned by In-site.

The company has acquired a long leasehold on Cross Green Approach, with a yield target of 25-30%.

Langleys Solicitors acted for On-site on the acquisition. Holder & Co Property Consultants introduced the property and advised on the purchase.

Alex Boyle, managing director of In-site Property Solutions Limited, said: “The former Lawcris headquarters is an exciting site for us – the investment gives us the opportunity to bring a good quality industrial unit of 81,656 sq ft to the market and is backed by a solid local covenant with Lawcris, who are occupying other units on the site on a lease of more than 10 years.”

On-site is demolishing some nearby offices and creating a large, secure yard to accompany the building. Alex added: “We are quoting just £3.50 per sq ft, which is great value for such a quality building in a great location on the Cross Green Industrial Estate with its excellent road connections to the M1 and M621.”

Tim Cross, head of commercial property at Langleys Solicitors, commented: “This is an exciting time for In-site Property Solutions and its new associated company On-site. The deal at Cross Green represents a solid start to developing an On-site portfolio of sites and buildings in the commercial property market which are ripe for attracting high returns on investment.”

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