Wakefield office complex sold for over £700k by Carter Towler

Carter Towler has completed the purchase of an office complex in Wakefield on behalf of its client, Durham Group Estates Ltd.

The two storey, 8,337 sq ft property which is currently let to Galliford Try Building Ltd has been purchased from a guide price of £788k with a net initial yield of 10 per cent.

Built in the 1990s, the offices occupy a large site with ample parking and currently generates an annual rental income of £83k.

Carter Towler’s director, Matthew Faulkes, said: “Our client is highly delighted with the purchase of Galliford Try House.

“It’s in a fantastic location at the heart of the trans-Pennine motorway network; it is occupied on a long term lease by excellent tenants and is in exceptionally good condition.

“We have been very active on behalf of the Durham Group for the past 18 months with five additional similar purchases.

“All of the properties are in Yorkshire and the North East and we are looking forward to adding them to the extensive property portfolio we currently manage for the Group.”

Tyneside-based Durham Group Estates is a privately-owned property investment company with a mixed portfolio of office, retail, industrial warehouse, storage and student accommodation across the North East and Yorkshire.