A 65,000 sq ft building at Wakefield Hub has been acquired by Aberdeen Standard Investments in a £11.4m deal with property developer, HBD.
Wakefield Hub is a 200-acre strategic industrial and logistics development being delivered by Newmarket Lane Ltd; a joint venture partnership between HBD and Yorkcourt. A nationally important logistics site, it is capable of accommodating more than 1.5m sq ft.
HBD forward funded the build of the unit to BREEAM Very Good standard, which includes 80 car parking spaces and 24 lorry bays.
Simon Ross, senior development surveyor at HBD, said: “It’s great to get this deal across the line – it is an excellent investment prospect given its quality and location, specification and strong covenants. Wakefield is a key destination for logistics occupiers and the shortage of Grade A industrial and logistics units will mean that demand for space will remain robust.”
Wakefield Hub has attracted a series of large occupiers, including Kitwave, which moved into its purpose-built unit earlier this year.
NorthCap advised HBD on the sale. JLL advised the purchaser.
