Eddisons sells warehouse in £2m deal

Eddisons sells warehouse in £2m deal

Eddisons has sold a 39,000 sq ft warehouse investment, at Featherstone’s Green Lane Industrial Estate near Wakefield, for almost £2m.

The building, home to NHS supplier Healthcare at Home, has been sold to Bilfinger GVA client, warehousing business Onward Holdings.

Onward specialises in operating northern industrial warehousing and retail parks. The family-run company’s other sites include Castleford, Doncaster, Ackworth and Scunthorpe as well as Onyx Retail Park near Rotherham.

Junction Point, on a 2.3 acre site and with 10,400 sq ft of offices and 29,000 sq ft of warehouse space is being let to Healthcare at Home at a rent of £120,000 per annum on a ten-year term that began in 2014. Eddisons, and Ian Errington, partner in Blacks Solicitors’ property team, acted on behalf of the vendor.

Steven Jones, associate agency director at Eddisons, said: “Properties generating this scale of return and with a good lease length are becoming increasingly scarce right across Yorkshire, especially with the excellent transport links that Junction Point enjoys, just two miles from the M62.

“At a 6% net initial yield, the building was an excellent prospect from an asset management perspective and we are really pleased to have completed the sale for very close to the asking price.

 “It’s encouraging now the dust is beginning to settle post referendum and we are seeing transactions concluding and some much needed momentum returning to the market.”

 

Click below for similar business stories in your area

Bqlive BQB Sign Up Button YK