Yorkshire timber component manufacturer secures 20,000 sq ft letting in Bradford

Yorkshire timber component manufacturer Ramsey Timber Group has signed a five-year lease on a 20,000 sq ft unit at Hartley Business Park on Dick Lane, Bradford.

The Leeds office of global property consultancy Knight Frank advised on the letting of Unit 2 at the business park, which is owned by the Hartley Property Group. The rent is £3.50 per sq ft.

A spokesman for the Hartley Property Group commented: “In recent years we have seen confidence return to the industrial property market in Yorkshire - and the letting of another 20,000 square feet in our modern Hartley Business Park is a significant demonstration of this.

“Hartley is grateful to Knight Frank for their expertise and professionalism in facilitating this transaction and we look forward to the letting of the remaining available units on the site.”

Mike Ramsey, managing director of the Ramsey Timber Group, added: “Confidence in the market enables this significant addition to our warehousing stock and supports our five-year plan for growth and investment.”

Nick Prescott, industrial property specialist with Knight Frank in Leeds, also said: “We were delighted to broker this important deal, which enables a successful Yorkshire company like the Ramsey Timber Group to expand into superb new premises.

“This is a high-quality business park, strategically located between Bradford and Leeds and close to Yorkshire’s excellent motorway network. The unit had only very recently been refurbished to a very high spec, and therefore the subsequent swift letting to Ramsey Timber illustrated the quality of this product.

“It is not surprising, therefore, that we are already seeing strong interest in the remaining refurbished space in Units 3 and 4, totalling 63,000 sq ft. which can be combined, if needed.”

The business park in Laisterdyke, Bradford, is one of several developments and is part of the regeneration programme Hartley are initiating in Yorkshire; consisting of logistical parks, innovation centres and other major developments.

These are giving major impetus to a private sector led Northern Powerhouse project being conducted by Hartley.

This significant letting comes in the wake of Knight Frank’s report that the total take-up of industrial units over 50,000 sq ft across the region reached 1.7m sq ft in the second half of 2015. This shows a 58% increase on the first six months of 2015 and was 16% higher than the same period in 2014.

Among the main deals, TK Maxx signed a lease for 635,000 sq ft at Cross Point in Wakefield and BSS acquired 50,000 sq ft at Trident Park, Normanton.