Scarborough-based property investor Broadland Properties have completed the acquisition of Wakefield 31, the 176,000 sq ft former TK Maxx distribution centre at Wakefield Europort, Castleford.
The property is situated in a prime logistics location close to Junction 31 of the M62 and prominently fronts California Drive, the main spine road leading through the estate.
The building has just undergone an extensive refurbishment to a very high standard and is available immediately for occupation.
Gidon Amar of Broadland Properties said: “We felt this was too good an opportunity to miss. The M62 corridor in Yorkshire continues to be a prime logistics location with the M1 and the A1 close by, allowing companies to reach over 70 per cent of the population within a 4.5hrs drive time. We are confident that the location and quality of the property will attract a great deal of interest from potential occupiers.”
Iain McPhail, partner in the Knight Frank Industrial team in Leeds, who advised Broadland on the purchase, said: “The property is one of the largest available warehouse units in the region and offers occupiers a high-quality product which is already fitted out internally with warehouse lighting, heating and a sprinkler system significantly reducing initial set up costs to an incoming tenant.”
Rob Oliver, Director of Industrial agency at GVA, who acted for the vendor, said: “This is one of the most significant industrial deals to complete in Yorkshire this year. The region continues to be popular with occupiers and investors alike and this sale underlines that well-located assets, with potential for quality tenants, will always prove attractive.”
The property comprises a high bay warehouse unit with single storey office block. The main warehouse benefits from eaves heights ranging from 12-13.4 metres. There are 16 dock level doors and 1 ground level. The property also has a fully secure service yard and separate generously-sized car park, providing 194 spaces.
The Leeds offices of Knight Frank and GVA have been appointed to market the property on behalf of Broadland Properties. Gent Visick undertook the acquisition building survey and Weightmans acted as purchaser’s solicitor.