Eddisons sells Featherstone warehouse in £2m deal
06 October 2016
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 clients of Bilfinger GVA; warehousing specialist Onward Holdings Ltd.
Family-run business Onward Holdings specialises in operating highly competitively priced industrial warehousing and retail parks in the North of England. Its other warehousing sites include Castleford, Doncaster, Ackworth and Scunthorpe as well as the very busy Onyx Retail Park at Wath upon Dearne 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 let to Healthcare at Home, the home medical services business that cares for cancer patients and others, at a rent of £120,000 per annum on a ten-year term that began in 2014. Eddisons 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 form the M62.
“At a 6 per cent 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.”