Ian Errington, Blacks Solicitors, Steven Jones, Eddisons.
Nick Hill

Eddisons completes sale of Featherstone warehouse in £2m deal

A 39,000 sq ft warehouse investment at Featherstone’s Green Lane Industrial Estate near Wakefield has been sold for almost £2m.

Occupied by the NHS supplier Healthcare at Home, the building has been sold by Eddisons to warehousing business Onward Holdings.

Onward, a family-run business, specialises in operating northern industrial warehousing and retail parks.

Junction Point, located on a 2.3 acre site and with 10,400 sq ft of offices and 29,000 sq ft of warehouse space, is let to Healthcare at Home at a rent of £120k per annum on a ten-year term that began in 2014.

Onward’s other sites include Castleford, Doncaster, Ackworth and Scunthorpe as well as the Onyx Retail Park at Wath upon Dearne near Rotherham.

Eddisons, and Ian Errington, partner in Blacks Solicitors’ property team, acted on behalf of the vendor.

Steven Jones, associate agency director at Eddisons, said: “Properties generating this scale of return and with a good lease length are becoming increasingly scarce right across Yorkshire, especially with the excellent transport links that Junction Point enjoys, just two miles from the M62.

“At a 6% net initial yield, the building was an excellent prospect from an asset management perspective and we are really pleased to have completed the sale for very close to the asking price.”

He added: “It’s encouraging now the dust is beginning to settle post referendum and we are seeing transactions concluding and some much needed momentum returning to the market.”

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