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Construction News
26/09/2019
Prime West Yorkshire Industrial Development Sold
A prime industrial and office development near Wakefield in West Yorkshire has been acquired in a £15.1 million deal.
Adore and Worthing Councils purchased the development at Normanton Industrial Estate from property consultancy AWS.
Photon Park, which is located adjacent to Junction 31 of the M62 comprises a newly built 53,657 sq ft industrial unit and a Grade A office of 31,348 sq ft with 172 car parking spaces and nine acres of hard standing. The facility is currently let to Aston Berkeley Car Auctions on a 15-year lease.
Kevin Surplice, Director at AWS said: "We are pleased to have secured a strong return on Photon Park on behalf of Illuminating investments which built the property in 2017. The Park is well located on one of Yorkshire's most established industrial estates with a strong covenant making it an attractive investment package.
"Despite economic uncertainty the investment market for prime commercial property remains very robust. Yields remain at historically low levels and the returns we are achieving for clients are currently exceptional."
(CM/MH)
Adore and Worthing Councils purchased the development at Normanton Industrial Estate from property consultancy AWS.
Photon Park, which is located adjacent to Junction 31 of the M62 comprises a newly built 53,657 sq ft industrial unit and a Grade A office of 31,348 sq ft with 172 car parking spaces and nine acres of hard standing. The facility is currently let to Aston Berkeley Car Auctions on a 15-year lease.
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Kevin Surplice, Director at AWS said: "We are pleased to have secured a strong return on Photon Park on behalf of Illuminating investments which built the property in 2017. The Park is well located on one of Yorkshire's most established industrial estates with a strong covenant making it an attractive investment package.
"Despite economic uncertainty the investment market for prime commercial property remains very robust. Yields remain at historically low levels and the returns we are achieving for clients are currently exceptional."
(CM/MH)
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