Proof that the supply of industrial units is running out and that values are being maintained is illustrated by our recent transaction says Nick Arundel of AWS Ltd. “Acting jointly with Nabarro McAllister we have sold a mid-terraced industrial unit of 2,474 sq ft to JWT Developments for a figure that equates to £80 per sq ft. The property is on The Courtyards, Victoria Park, in Seacroft”.
We havesold a self-contained unit of 6,660 sq ft on Beza Road in Hunslet, Leeds to Aspect Contractors for a figure £460,000 which equates to a figure of £70 per sq ft. Gina Korszanski of AWS acted on this transaction. The unit was constructed in the early 1980’s and benefits from being close to both the City Centre and the motorway network. The point is that therefore, despite media reports to the contrary the industrial market is still moving and we are achieving figures that are not far away from those we were achieving before the start of the recession.
Acting on behalf of Powerlite, Nick Arundel of AWS has brokered a deal with Charles Micklethwaite with regard to the letting of this property to Bagel Nash. The new tenants are to create a state of the art bakery facility which indicates considerable expansion in their business and expansion of their production operation.
AWS have brokered a deal with JWT Developments Ltd on behalf of Xtras Accessories Ltd on Unit 15 The Courtyards, Victoria Road, Seacroft. This high quality 2,474 sq ft unit has been sold for a figure equating to £80 per sq ft. Nick Arundel who acted on the transaction at AWS believes that this transaction is proof that values for industrial properties are at pre-slump levels and reflect the fact that there is now a dearth quality modern stock available in the market.
AWS, acting jointly with Carter Towler, have sold the 38,500 sq ft Quantum in Stourton, Leeds to Clients of Michael Cavannagh of Burnley based Agents, Trevor Dawson. The building sold for a figure close to the asking price and reflects the continuing strong demand for industrial premises in the Greater Leeds region. Nick Arundel of AWS and Ian Greenwood of Carter Towler, who acted for Commercial Development Projects (the vendors) in the transaction are both confident that the take up of industrial space will continue and the available stock of such properties will continue to diminish which may in turn prompt new speculative development. The purchasers were Store First Ltd.
AWS are pleased to confirm the purchase of a multi-let industrial estate on Hillam Road, Bradford on behalf of their Clients, a Manchester based Property Company. The estate comprises two purpose built terraces providing 19 units with sizes ranging from 500 sq ft to 2,800 sq ft let to a number of local and national tenants. This investment represents a commitment to both Bradford and the small unit industrial sector which the purchaser has considerable experience in, similar property investments sought. The purchase price reflected a net initial yield of 11.25% and the vendors were represented by the Manchester firm of Whittaker Horton.
Robert graduated from Sheffield Hallam University in 2010 with a BSc Hons in Property Development, by which time he had completed several work experience periods with commercial surveyors in East Yorkshire. After working in residential agency he joined AWS in October 2012 to assist Colin in the property management department, and is currently working towards completing his APC.
On behalf of London & City Land Ltd, AWS and their joint agent WSB have completed the letting of the ground floor of Unit 3, Killingbeck Court, Leeds to Paperworks. Paperworks become the newest occupiers on the established estate alongside Leeds City Council, Re New, The Stroke Association and Sanctuary Housing.
AWS are pleased to report another retail letting, this time in the centre of Garforth - 8 Lidgett Lane. The former beauty salon has been let to a local occupier specialising in retail.
AWS Ltd are pleased to announce the successful sale of a newly completed 44,000 sq ft high specification industrial unit on DeVilliers Way at Normanton. The property developed by Commercial Development Projects Ltd was completed at the beginning of September 2012 to an exceptionally high specification agreed with the incoming Tenant, Bosch Rexroth Limited. Bosch have taken a 15 year lease at a commencing rental of £317,000 per annum reflecting the high office accommodation of the unit. The property was sold jointly by Kevin Surplice of AWS Ltd in Leeds and Andy Carter of Carter Towler also of Leeds to private Clients of Stevenson Day at a price reflecting a net initial yield of 8% and a capital value of £83.40 per sq ft.
Leeds based fashion accessory retailer, XTRAS, has acquired and expanded into unit 6, Victoria Park, Seacroft. This rapidly expanding wholesaler and retailer has taken over this high quality modern industrial unit which is located to the North East of Leeds with excellent access to both the motorway and the arterial routes to and from the City. Letting Agent, Nick Arundel of AWS Ltd, reports that "this transaction is further evidence of the ongoing increase in demand for industrial warehouse facilities across the region. We are rapidly running out of quality product and we are at last seeing valuers realise that we do not have to give properties away to achieve transactions".
We are delighted to announce that we have negotiated the surrender of our clients lease on the Brown Lane property with a concurrent sale to Rotork/Exeeco. Rotork are of course delighted with the acquisition and Nick Arundel of AWS who handled the transaction stated that "this was one of the few buildings in the region that suited Rotork in terms of the office/factory configuration and it has been a fantastic achievement by all concerned to ensure that the transaction proceeded smoothly, quickly, and without hiccup. Everybody involved in this transaction has done their utmost to ensure that momentum was maintained throughout".
Acting on behalf of Ardane Properties, AWS Ltd have let Unit 3 at Ardane Park, Green Lane, Featherstone to Quantum Pharmacuticals. The property is a modern industrial unit of 7,600 sq ft and the lease will be at a rent of £36,250 per annum exclusive. Nick Arundel of AWS commented that “this transaction illustrates the continuing and increasing demand for quality industrial units in quality locations”.
AWS are pleased to announce the completion of the letting of 1 Church Street, York to Lucky Day Sandwiches Ltd. The property was let on a 10 year lease with the quoting rent of £30,000pa being achieved. Acting on behalf of the Landlord, Gina Korszanski of AWS commented “ the property was on the market for less than 6 months and in that time we did have a good level of interest as you would expect given the location of the property. We are pleased to have concluded the letting with Lucky Day Sandwiches and it will be a popular choice with tourists as well as the locals”.
AWS, acting for Almac Ltd have sold Shreddall House on Westland Road to Dax Air Services who are a compressed air and vacumn engineering specialist. The property was constructed in the mid 1970's and is a single storey unit of just over 2,154 sq ft and the sale price was at a £135,000.
AWS are pleased to confirm the acquisition of a prime retail investment in Victoria Square, Bolton on behalf of a private client. The property let to Bolton Primary Care NHS Trust and a local Café operator produced a total rent of just over £131,000 per annum and was bought off a net initial yield reflecting just over 10%. The property was purchased just prior to being offered at auction.
AWS are delighted to announce the letting of Unit 7 Silver Court Industrial Estate to Aire Valley Rewinds Limited. The company has taken a new 5 year lease from April 2012 in addition to their existing premises at Unit 6.
AWS are pleased to announce the completion of the letting of a retail unit on Ferrybridge Road, Castleford to I Glass Systems Limited. The property was let on a new 3 year full repairing and insuring lease at a commencing rent of £9,750 per annum.
AWS, alongside joint agents Lambert Smith Hampton are delighted to announce the letting of Unit 5 Springfield Close, Rotherham to Jarad (Metals) Limited. The company has taken a new 5 year lease from February 2012.
AWS and CBGA are pleased to announce the successful sale of this 62,365 sq ft leisure park on the edge of Stockton Town Centre. The property which produces a total income of £486,800 per annum is let to Mecca Bingo Grosvenor Casinos Ltd and Burger King. Kevin Surplice of AWS and Alex Butler of CBGA marketed the property in October of 2011 and having received strong interest in the property completed a sale on behalf of their Clients, Praedia Investments Ltd just before Christmas. The purchaser, a private Property Investment Company was represented by Ari Eckstein of Landswood De Coy.
AWS are delighted to confirm that they have completed the letting of Unit 6B Ashbrooke Park, Leeds to DPR Services. The transaction sees the business relocate its head office from Headingley onto the Ashbrooke Park Estate.
AWS are pleased to confirm the letting of 25 Low Town, Pudsey. The retail unit had only spent a short time on the market before the deal was agreed with Whitegates Estate Agents, who are relocating from elsewhere in the Town to Low Town.
AWS have just been retained by Oakgate Group PLC to market Suite G, Oakgate House, Wetherby. This small office suite extending to 690 sq ft is well located in the centre of this popular market town and ready for immediate occupation. Having the benefit of on site car parking and flexible leases available, the suite is ideal for established or new start local businesses and viewing is highly recommended.
Acting on behalf of a private client, AWS are pleased to announce the sale of this retail investment, situated in the popular North Leeds suburb of Headingley. The property is let to Shire Hair Salon with an unexpired lease term of 7 years and was purchased by a local investor.
AWS are pleased to announce the letting of Corson House, Beechwood Estate, Roundhay to Home Marketing Ltd. Home Group, which are already established on the estate have expanded further and taking the 1,200 sq ft office on a three year lease.
December saw the lettings of two town centre retail units on Effingham Square, Rotherham. The units were let to independent retailers, Gina Korszanski commented, we were extremely pleased to see both shops being let prior to Christmas. These lettings now mean that the parade is fully let which is encouraging and hopefully a positive sign for the towns small retailers.
AWS are delighted to announce that they have today completed the letting of the above premises to Continental Landscapes Limited. Acting on behalf of Grahams Estates Limited, agent Dave Travis commented "Due to a lot of hard work from all concerned, I am delighted that we have been able to complete this transaction prior to the festive period in what is typically a slow-burning month"
AWS (acting jointly with Nabarro McAllister) have let Unit 7, the final unit at Buslingthorpe Green to building services provider, Rotary Group. The modern high quality industrial unit of 2,300 sq ft has been taken on a 5 year lease on a full repairing and insuring basis.
AWS along with joint-agents Smiths are delighted to confirm that they have now completed the letting of Units 1A & 9D at Redbrook Business Park, Barnsley to Norse Commercial Services Limited.
Local contractors G&H Building Services Limited have further expanded their operations on the Spence Mills Industrial Estate by taking additional warehouse and industrial space. The company, which runs its Head Office on the estate has recently taken 2,309 sq.ft of space within Unit 3A on a new lease.
Personnel Hygiene Services (PHS) have further cemented their occupation on the Golborne Enterprise Park by taking an additional 750 sq.ft of industrial space on the estate. A transaction has today been completed on Unit 8, which now leaves only Units 2 & 14 vacant on the 21-unit estate.
ARTS Company Opera North has acquired the former Polestar Jowetts factory in Leeds from Scottish Widows Investment Partnership for around £2m. Opera North is to use the 73,374 sq ft property, originally a printing facility, as a storage unit for sets, props and scenery required to stage the various productions.
Keighley Taxis have expanded their operations in the town by acquiring leasehold premises from AWS on Church Street. Acting on behalf of the Landlord, AWS have agreed a deal on the two remaining units, leaving the parade now fully occupied. Gina Korszanski commented “these units are very popular and have not been on the market for long before this letting was agreed. We are pleased to assist in the expansion of this local business and it is another success story for the town.”
AWS are pleased to announce the sale of The Old Chapel, Rodley Lane, Rodley. The former photography studios have been sold to a local developer who has gained planning permission to convert the former Chapel in to residential apartments. Gina Korszanski who acted on behalf of the vendor commented “this transaction required a lot of time and effort from both parties in order to conclude, but we are very pleased to see the matter completed and new life being brought in to this fantastic building”.
AWS, acting alongside local joint agents Smiths Chartered Surveyors of Barnsley have negotiated a letting of the property to local company Equi-Sport Limited.
Leeds based Ladies Fashion Retailer Oaks, have taken 43 Market Place in Wetherby. This development reflects continued expansion for this Retailer who will add to the "retail offer" of this attractive market town.
Acting on behalf of Earnstone Developments, AWS have let 11,500 sq ft on California Drive, Castleford to Nightfreight Ltd. The property is located at junction 31 of the M62 as well as benefitting from its proximity to the motorway it is in an excellent location to distribute to the whole of the Greater Leeds and West Yorkshire conurbation.
AWS are delighted to confirm that they have now completed the re-letting of Unit 1 Silver Court Industrial Estate, Bramley to Mr. R. Govell & Mr. S. Sykes t/a Leeds Hydroponics. AWS acted on behalf of retained Clients, Sheffield & Regional Properties Limited.
Hot on the heels of Units 5 & 12, AWS have now completed the re-letting of Unit 3 at Golborne Enterprise Park to Personnel Hygiene Services Limited, increasing their presence on the park to 3 units.
Parkside Garage (Leeds) Limited have firmed up their presence on the Ashbrooke Park Estate by expanding into Unit 11 in addition to their existing premises.
AWS are delighted to confirm that they have immediately re-let Unit 3 Silver Court Industrial Estate to Mr. Iain Potts t/a Sirius Model Making after a void period of only 2 months.
Acting on behalf of Greggs, AWS have effected the disposal of units 1 and 2 Tuscany Way, modern industrial units totalling 3,600 sq ft by way of assignment to Wilsons Butchers.
Acting on behalf of the Landlords, Sheffield & Regional Properties Limited, AWS have recently re-let Unit 5 at Golborne Enterprise Park to Allhire Company Limited and Unit 12 to Mr. Lee Campbell t/a LC Blueprints.
Acting for Earnstone Developments, AWS have let a new 26,000 sq.ft unit at Normandy Court to Hyco Manufacturing Ltd.
Acting on behalf of the Landlords, SR Properties Nationwide Limited, David Travis of AWS has recently let Unit 8 Ashbrooke Park, Leeds to Simo.Shindara & Associates.
AWS, along with the Yorkshire based developer Ashbrooke Developments are pleased to announce the sale of its most recently completed phase of the Sherburn Industrial Estate.
David Travis of AWS has recently let 1,215 sq.ft of vacant warehouse space at Spence Mills on behalf of Yorkshire Property & Investment Company Limited to local workwear supplier FCC (Leeds) Limited.
Acting on behalf of the Landlords, Sheffield & Regional Properties Limited, AWS have recently had a spate of success and have re-let units 6, 18 & 21 on the estate to new occupiers.
Telecommunications experts Abzorb Ltd have acquired 9,581 sq ft of high quality modern industrial on Armytage Road, Brighouse from the PHS Group.
Nick Arundel of AWS Ltd and Simon Nabarro of Nabarro McAllaster have sold Unit 8, Buslingthorpe Green, a high quality terraced industrial unit of 4,150 sq ft to Oliver Bedford of Revive IT Recycling Ltd.
David Travis does it again! David Travis of AWS acting on behalf of Custom Park Properties Ltd has let the 1,500 sq ft modern industrial unit, 2 Beeston Royds Industrial Estate, Leeds, to Airedale Hydraulics.
Dave Travis of AWS has just let 750 sq ft of warehouse space to Carol Challis on the popular Golborne Enterprise Park which is close to Warrington City Centre.
Representing their Clients, The Yorkshire Property & Investment Company Ltd, AWS have agreed a new lease to G & H who are expanding their head office facility at the site.
Acting for Leeds based developer Deltalord, Property Consultants AWS and Savills have let 38,000 sq ft (3,530 sq m) of the prestige office development, The Mint, to ASDA, who were represented by Colliers International.
AWS Ltd have let the above unit to 3D Laminates on the basis of a five year term certain at a rental of £32,000 per annum exclusive
FAST-growing budget retailer, Poundworld Retail Ltd, is leasing a 215,000 sq ft West Yorkshire warehouse unit as part of its national expansion drive.
AWS Ltd and Carter Towler have let the high quality industrial unit number 5 Navigation Park to Siemens Plc.
Acting on behalf of retained clients Sheffield & Regional Properties Limited, AWS have recently completed the letting of Unit 17 at Golborne Enterprise Park to Mr. Alex Pye for a term of 3 years.
Further to the vacation of the previous tenant, AWS have moved swiftly to re-let Suite 705 at the Ashbrooke Park Flexi-Offices on behalf of retained clients Sheffield & Regional Properties Limited.
Following a period of continued interest, AWS have recently managed to let one of the two remaining vacant units on Phase I of the popular Silver Court Industrial Estate, situated off Intercity Way between the suburbs of Bramley and Stanningley.