Tuesday, September 22, 2020

Property investors sell Bradford industrial units in £2.5m deal

West Yorkshire property consultants Walker Singleton have brokered a significant industrial property deal in Bradford.

The consultancy advised property investors M&B Estates on the sale of a 2.3 acre development at Low Moor to Collett Transport UK for £2.5 million.

The development, situated at Carr Lane and Spartan Road, comprises three industrial units with offices totalling nearly 76,000 sq ft. It is part-let to Styrene Packaging and Insulation and Tailormade Design Ltd. A vacant unit of 32,700 sq ft will now be occupied by Collett Transport.

Jonathan O’Connor, Director at Walker Singleton, said: “This was an excellent deal, which suited both parties perfectly. M&B were keen to sell and Collett Transport were looking for a new depot in West Yorkshire. Collett will also benefit from two established tenants with strong covenants.

“Walker Singleton have had a long history of involvement in this site, which was originally bought by M&B 18 years ago. We successfully advised on the letting to Styrene and also on the lease renewal for Tailormade.

“Low Moor is an established and popular industrial property location in West Yorkshire, just  three miles south of Bradford city centre and less than two miles from J26 of the M62 (junction with M606). Its position so close to Yorkshire’s superb motorway network is a massive selling point.

“This deal also underlined the strength of the industrial property market in West Yorkshire, which we expect to prosper this year, especially in light of the new political stability. There is a good deal of demand for investments of this nature in the current market and we anticipate a busy and successful year.”

Bernard Kumeta of M&B Estates said: “The reason for the sale was to fund further acquisitions. I would like to pay tribute to Jonathan O’Connor for his work on the deal. He was highly committed to the process. He has a thorough understanding of the market, provided regular updates and well-informed advice, and smoothed away some of the wrinkles that are inevitable in a sale of this type of asset. We look forward to working with him again in the future.”

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