Peloton Real Estate has acquired two detached industrial warehouse units in Castleford, Wakefield totalling approximately 30,000 sq ft for a price of £2.51m.
Located on Speedwell Road, close to Junction 31 of the M62 motorway, the well-specified units are let to two long-standing tenants and provide a weighted average unexpired term of approximately three years (to breaks).
Nick Okell, director of Peloton Real Estate, said: “We’re delighted to complete the purchase of these two prime industrial units. They perfectly demonstrate our strategy to acquire well let, last mile/urban logistics assets with asset management opportunities in the short to medium-term.”
Richard Brooke, partner at Cushman & Wakefield, who advised Peloton Real Estate on the acquisition, said: “This deal demonstrates sustained investor appetite for well-located assets with strong underlying property fundamentals.
“The investment generates a good income return from day one, whilst providing a number of potential asset management initiatives to explore in the future. We are pleased to have been able to work alongside Peloton Real Estate on another deal in Yorkshire.”
LSH advised the vendor.