West Yorkshire office complex snapped up by property investment firm

24 January 2019

West Yorkshire office complex snapped up by property investment firm

A two-storey office complex in Wakefield has been purchased off a guide price of £788,000.

The 8,337 sq ft property was built in the 1990s and currently generates an annual rental income of £83,000.

Property consultant Carter Towler purchased the property, which is currently let to Galliford Try Building, on behalf of its client property investment firm Durham Group Estates.

Matthew Faulkes, Carter Towler director, said: “Our client is highly delighted with the purchase of Galliford Try House. It’s in a fantastic location at the heart of the trans-Pennine motorway network; it is occupied on a long term lease by excellent tenants and is in exceptionally good condition.

“We have been very active on behalf of the Durham Group for the past 18 months with five additional similar purchases. All of the properties are in Yorkshire and the North East and we are looking forward to adding them to the extensive property portfolio we currently manage for the Group.”

Gurpreet Jagpal, Durham Group Estates chief executive, added: “ We are delighted to add this property to our growing portfolio and would like to thank Matt and his team at Carter Towler along with our legal advisors DWF who enabled us to complete this purchase within four weeks.

“Having worked with Carter Towler over a number of years, we are particularly pleased to purchase this property given its location and easy access to the M62.”