Commercial real estate firm, Avison Young, has completed the acquisition of a 258,037 sq ft industrial unit on behalf of The Doncaster Property Trading Group.
The unit on Wheatley Hall Road, Doncaster, which was previously occupied by Eaton Electrical, has been acquired by a local investor and will undergo a renovation programme by the new owners.
Situated in a well-established business location, the refurbished industrial site will be divided into smaller units, offering substantial production and warehouse space, as well as a mixture of ancillary and quality office accommodation.
Jake Pygall, associate director at Avison Young, said: “The industrial market continues to experience high demand for space, especially for modernised units, and this acquisition is a fantastic strategic asset for The Doncaster Property Group. There is a real shortage of affordable stock in the area and Wheatley Hall Road, with its prime location right off one of the main arterial routes into Doncaster town centre, will provide a huge draw and plug that gap for potential occupiers.
“Unsurprisingly, there is already a high level of interest in the space now that it is being upgraded, with one significant pre-let already secured, and we expect to be able to secure further new tenants in the near future.”
Avision Young were appointed to the site at Wheatley Hall Road in September and has already completed a letting of 110,000 sq ft. The remaining units range from 40,000 to 100,000 sq ft.
Nigel Griffiths at Doncaster Property Trading Group said: “We are delighted with the recent acquisition of the Wheatley Hall Road site and would like to thank the team at Avison Young for their invaluable advice, fronted by Jake Pygall.
“Jake has continued to support and advise us in the recent marketing of the space and has secured tenants for over 220,000 sq ft of the space, reflecting the strong demand for industrial space in Doncaster.”
CBRE acted on behalf of the seller.