'Prestigious' West Yorkshire warehouse sold in £6.3m deal
The investment management business of the Savills Group has snapped up a 52.500 sq ft West Yorkshire warehouse in a £6.3m deal.
Savills Investment Management acquired Unit F within Trident Park in Normanton, near Wakefield, from Travis Perkins Properties.
Knight Frank’s Leeds-based capital markets team brokered the sale, which reflects a net initial yield of 4.70%.
The sale followed the letting of the unit to the Kelling Group at £6 per sq ft on a 15-year lease. Knight Frank advised.
Rebecca Farnsworth, partner at Knight Frank, explained: “Knight Frank advised Travis Perkins throughout the process: securing The Kelling Group on a rare unbroken 15-year lease term benefitting from RPI linked reviews followed by the sale of the investment, securing a great result for our client following a competitive bidding process.
“The unit comprises a prestigious high-quality warehouse unit situated in a prime logistics location within a mile of junction 31 of the M62.
“Built in 2016, the building’s impressive specification, coupled with the lack of existing stock on the market of this size, meant that it was always going to prove popular in the market.
“Nevertheless, the price achieved underlines that the industrial property sector in Yorkshire remains extremely healthy.”