• Strategically located at the intersection of the M1 and M62 motorways, Wakefield provides excellent access to the national motorway network and connects with the major conurbations of Leeds, Sheffield and Manchester. The ports of Humberside and Liverpool are easily accessible. Wakefield is located 10 miles south of Leeds, 25 miles north of Sheffield and 38 miles east of Manchester.
• The Property comprises a warehouse and manufacturing unit configured in 2 units, originally constructed in the 1980s with the extension constructed in 2006 with a GIA of 210,002 sq ft (19,510 sq m).  Steel portal frame construction with a clear 6-9 metres to the underside of the haunch. Part brick and part insulated profile metal sheet exterior with pitched insulated profile metal sheet roof.  7 ground level loading doors with 2 external canopies.  Sodium lighting. Secure concrete goods yard with yard depths of up to 45 metres. phase electricity.
• The Property is utilised as a major printing works and is heavily fitted out with plant and machinery meaning long term tenant retention prospects are high. The tenant is one the UK’s leader in brochure, magazine and general commercial printing providing a range of products to the most established brands in the industry.
• The property is let  on FRI lease terms expiring July 2035. This provides an unexpired lease term of 15.5 years. The Tenant has recently agreed a new 10 year reversionary lease from July 2025.  Initial rent of £1,282,590 per annum equating to £6.11 sq ft. The rent is then subject to reviews in July 2025 and 2030 linked to RPI with a collar of 1% per annum and a cap of 4% per annum.
• Investment comparables with recent transactions in 2019 in Wakefield range from 4.60% - 5.77% yield and £72  to £179 psqf. The owner is looking to sell this property in the £19m range equating to a net yield of 6.3%.

STRONG MARKET

The industrial and logistics sector continues to attract strong investor demand from UK institutions, overseas and domestic private equity, property companies and Local Authorities. Demand is underpinned by a robust occupational story, driven by the continued structural shift in occupational needs. As a result, the Yorkshire industrial market has experienced a strong 2019 with rents rising c. 4% over the year. Furthermore a combination of low stock volumes and increasing investor appetite for prime assets has led to competitive tension and sustained pricing levels. On the  occupational front, 2019 take up was close to 4 million sq ft, significantly above the five year average of c. 2.3 million sq ft for the Yorkshire and Humber region. The result being a critical shortage of good quality industrial accommodation across the Yorkshire region. Despite small pockets of development activity, the supply demand imbalance remains acute, and this has continued to put upward pressure on rents. Although demand is coming from a variety of sectors, distribution related occupiers continue to dominate the market in response to changing consumer shopping patterns to accommodate the exponential growth in e-commerce.

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