Bed manufacturer acquires 'rare' 115,824 sq. ft. facility in West Yorkshire
A 115,824 sq. ft. manufacturing facility in Batley, West Yorkshire, has been acquired bed manufacturer Apollo Beds for an undisclosed sum.
Regional REIT, as managed by London & Scottish Property Asset Management, sold the premises, which in part is over 100-years-old.
The building was formerly occupied by Case Tractors which manufactured tractor parts from there for over 70 years.
More recently, the property was occupied by Next plc, and over the past 18 years was leased to XL Joinery, which is one of the UK’s largest supplier of wooden doors.
Paul Mack, director at Gent Visick, who negotiated the sale on behalf of London & Scottish Property Asset Management, commented: “We knew there would be strong demand for such a rare freehold opportunity in such an established manufacturing location.
“Although the building in part dates back over 100 years the property provided a truly traditional manufacturing/industrial facility, which are becoming harder and harder to find.
“The building benefits from a large power and gas supply, craneage and a fully integrated sprinkler system. We are delighted the building will be occupied by another local manufacturing business for many years to come.”
Regional REIT is an income focused fund and the property was strategically targeted for sale by London & Scottish Property Asset Management in order to take advantage of a positive market for a property as the sitting tenants lease neared expiry.
Gent Visick advised London & Scottish Property Asset Management on the disposal, whilst Michael Steel & Co advised Apollo Beds on the purchase.