Sale completed of Wakefield warehouse in deal worth more than £3m

A 66,896 sq ft distribution warehouse in Wakefield sold for over the £3m guide price.

Sanderson Weatherall, the Leeds-based property consultancy, has completed the sale of Unit K at Wakefield 41 Industrial Park.

Matthew Edwards of Ryden acting on behalf of the purchaser.

The property is let to Prostar Sports Ltd on a 10-year lease, at a passing rent of £250k pa with just over two years term certain remaining.

Jonathon White, partner in Sanderson Weatherall’s industrial agency team, commented: “We received significant levels of interest in the property, due largely to its high quality and desirable location in one of Yorkshire’s prime logistics hubs.

“The price achieved reflects a very keen net initial yield, in part due to the strong potential for rental growth at lease expiry.

“The level of intent received demonstrates the quality of Yorkshire’s industrial property market and in particular the investment market which continues to go from strength to strength.”