14 February 2020

Avison Young has acquired an industrial unit in West Yorkshire on behalf of a client.

The property consultancy has purchased the Unit 5 at Willowbridge Way, Castleford on behalf of Panacea Investment Group.

The unit comprises 29,326 sq ft of industrial/warehouse accommodation, and was constructed in 2006.It was acquired with vacant possession and is now being offered to the market on a leasehold basis.

Jake Pygall, associate director at Avison Young, said: "We are pleased to have acquired the building on behalf of our client, who is now looking to re-let the unit.

"It is a great addition to their portfolio and further demonstrates the continued strength of the industrial & distribution sector.  We predict strong rental growth within the vicinity and continued high demand."

Dan Summerfield, investment director, added: "The structure of Panacea Investment Group allows us to act quickly and invest in quality assets with opportunities to improve returns over the medium term.

"This opportunity is a prime example of a solid asset management strategy deployed in the mid box industrial property sector."