Wilton Developments, on behalf of Talbot Road Ltd, has acquired a new distribution and storage centre in Elmfield Road, Morley in a £1.15 million deal.
The 4.65 acre site was sold by Viamaster Transport Ltd and includes 20,000 sq ft of warehouse, offices and workshop space which are leased to road maintenance company, Colas Ltd, and Ringways, a vehicle preparation and storage business.
Since the acquisition, a lease extension was negotiated with Ringways and the investment now secures £120,000 per annum in rental income.
Jason Stowe, managing director at Wilton Developments, said: “The site offers good access to the M62 and M621 but the main appeal was the fact that it is rare to find industrial buildings of this nature offering this amount of storage land with good future potential.”
CBRE’s Leeds office acted on behalf of Viamaster.