Yorkshire’s commercial property market gets off to a flying start including Assets in Castleford Wakefield.
03 May 2018
A whopping £411m of commercial property assets changed hands across Yorkshire in the first quarter of 2018, research by Lambert Smith Hampton shows.
Yorkshire’s commercial property market reported its strongest start to a year in four years, according to Lambert Smith Hampton’s latest UK Investment Transactions (UKIT) report.
A total of £411m of commercial property assets changed hands during the quarter. Reflecting the productive start to the year, the total number of deals was also 48% above the same period in 2017, albeit the average deal size fell from £9.8m to £8.4m.
Interest in Yorkshire’s industrial sector rebounded from the somewhat muted Q4 2017, with £121.6m worth of industrial deals in the first quarter, underpinned by Columbia Threadneedle’s purchase of the Network North portfolio for £41.9m, which included assets in Castleford, Barnsley, Rotherham, Hull and Sherburn-in-Elmet
“Wakefield are proud to be working in partnership with the Axiom team to deliver this significant development including a new home for Castleford Tigers. As a local authority, we have a track record for being forward thinking and innovative. Axiom shares these same values and will become a flagship regeneration project that communities in Wakefield and the Five Towns can be proud of.”
Andy Wallhead - Corporate Director of Regeneration and Economic Growth, Wakefield MDC
Luke Symonds, capital markets – Yorkshire, said: “Yorkshire’s commercial property investment market has had a flying start to 2018, with volumes returning to pre-EU Referendum levels and the reappearance of several big ticket deals in the industrial and office sectors.