‘Prominent’ Wakefield industrial site sold in £2m deal

An industrial site near Wakefield in West Yorkshire has been sold in a multi-million pound deal.

Leeds property consultancy Gent Visick has supported the £2.035m sale of Olway Works on Healey Road on behalf of AV Ogden Holdings Limited to a private investor.

Covering five acres with around 26,000 sq ft. of buildings, the site is close to the M1 and is let until 2031 to Sunbelt Rentals, which rebranded from A-Plant earlier this year.

Garry Howes, director of investment at Gent Visick, said: “We generated a significant amount of interest in Olway Works and are delighted to conclude this sale on behalf of our client.

“This transaction shows how resilient the industrial sector is and the high levels of demand that exist for high quality industrial investment opportunities that are let to strong tenants.

“This is underpinned further by a shortage of industrial premises that offer secure, surfaced open storage land in Yorkshire, which is particularly apparent in Ossett. The town has seen limited development over the past decade and currently has no new developments planned or in the pipeline in the short or medium term.”

Jim Ogden of AV Ogden Holdings Limited added: “We sold this site in what proved to be a set of rapidly-changing and uncertain market conditions, but the Gent Visick team were agile and adaptable throughout, and delivered a strong sale that exceeded our expectations.”