Avison Young acquire prime located industrial / warehouse unit
Avison Young acquire prime located industrial / warehouse unit21 Feb 2020
Avison Young’s Leeds’ industrial and distribution team has purchased an industrial/warehouse unit at Willowbridge Way, Castleford in West Yorkshire on behalf of Panacea Investment Group Ltd.
Unit 5 at Willowbridge Way offers 29,326 sq ft of modern industrial/warehouse accommodation, which was constructed in 2006. The unit is prominently located within the prime industrial/logistics area of West Yorkshire close to junction 31 of the M62. The wider area forms part of one of the largest concentrations of industrial units in the Yorkshire area.
The unit was purchased with vacant possession and is now being offered to the market on a leasehold basis. There are several household brand names operating in close proximity, such as Royal Mail, Kuehne and Nagel, Bibby Distribution, Warburtons, and Haribo.
Jake Pygall, Associate Director at Avison Young said: "We are pleased to have acquired the building on behalf of our client, who is now looking to re-let the unit. It is a great addition to their portfolio and further demonstrates the continued strength of the industrial & distribution sector. We predict strong rental growth within the vicinity and continued high demand."
Dan Summerfield Investment Director added: "the structure of Panacea Investment Group allows us to act quickly and invest in quality assets with opportunities to improve returns over the medium term. This opportunity is a prime example of a solid asset management strategy deployed in the mid box industrial property sector."
The unit provides a high specification warehouse which includes a well presented integral two-story office space at a high standard, as well as a mezzanine and is conveniently located close to junction 31 of the M62.