Prime west Yorkshire warehouse sells for £6.3m

Prime west Yorkshire warehouse sells for £6.3m

Knight Frank’s Leeds-based capital markets team has brokered the sale of the warehouse for £6.3 million, reflecting a net initial yield of 4.7%.

The 52,500 sq ft Unit F Trident Park in Normanton, near Wakefield, was sold by Travis Perkins Properties to Savills Investment Management, advised by Christopher Dee.

The sale follows the letting of the unit to the Kelling Group at £6 per sq ft on a 15-year lease. 

Rebecca Farnsworth, partner at Knight Frank, said: “Knight Frank advised Travis Perkins throughout the process: securing The Kelling Group on a rare unbroken 15-year lease term benefitting from RPI linked reviews followed by the sale of the investment, securing a great result for our client following a competitive bidding process. 

“The unit comprises a prestigious high-quality warehouse unit situated in a prime logistics location within a mile of junction 31 of the M62.

“Built in 2016, the building’s impressive specification, coupled with the lack of existing stock on the market of this size, meant that it was always going to prove popular in the market.

“Nevertheless, the price achieved underlines that the industrial property sector in Yorkshire remains extremely healthy.”

Headquartered in London, Knight Frank has more than 14,000 people operating from over 413 offices across 60 countries.