Saturday, January 22, 2022

Grade A offices snapped up by investor for £4.3m

Alongside joint agent G Herbert Banks, Lambert Smith Hampton (LSH) have completed the £4.3 million acquisition of Woodland Park, Cleckheaton on behalf of Midlands investor, Parker & Parker Investments Ltd.

Set in attractive landscaped grounds, the acquisition comprises 31,772 sq ft of modern office accommodation across four two-storey buildings, well located adjacent to Junction 26 of the M62 motorway. It is 10 miles outside Leeds City Centre, with close access to Birstall Retail Park, Euroway Industrial Estate and having mainline rail access within 1 mile.

The Grade A offices at Woodland Park are fully let to fit out, technology and construction solutions company ISG Central Services Ltd.

G Herbert Banks LLP provided acquisition advice alongside occupational advice from LSH. Cushman & Wakefield acted on behalf of the vendor, a private investor.

Ross Firth, director – Office Advisory at LSH, said: “This is a great purchase for Parker & Parker Investments to further bolster their commercial portfolio, which they continue to add to with quality assets, such as Woodland Park. The acquisition offers a few angles from an asset management perspective and we are delighted to work closely with Parker & Parker going forward.”

Nick Jethwa, G Herbert Banks, added: “The acquisition of Woodland Park is a strategic purchase for Parker and Parker Investments. With an enviable position the accommodation lies adjacent to both open countryside and the M62/M606 junction.

“These grade A offices are ideally located for the out of town Leeds and Bradford markets, offering regional accessibility through both the motorways and a mainline rail connection only 1 mile distant. Through asset management Parker and Parker Investments will be optimising the accommodation for tenants and also their own returns.”

Chris Parker, Parker & Parker Investments Ltd., added: “We are very pleased to have made this acquisition in what is a premier office site with great rural views within the extensive motorway network just outside Leeds. Parker and Parker continue to grow their portfolio with continued investment in prime sites both in industrial and office. We intend to invest a further £10,000,000 within the next two years in sites that offer further asset value improvement. Thank you to all parties who helped in the process.”

Connor Rogers, Cushman & Wakefield, said: “I’m very pleased to have acted on the disposal of this asset on behalf of a private investor. This office park is strategically located adjacent to Junction 26, an area that is due to see a significant level of development activity in the coming months and years, which will further establish this location as a key commercial hub for the region. Whilst this sale represents a great result for my client, I am confident that the asset will also perform well for its new owners.”

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