A North East commercial property consultancy has acquired industrial premises in Yorkshire on behalf of an investor group.
Newcastle-based Naylors Gavin Black’s investment department has secured more than 52,000 sq ft of multi-let industrial and warehouse premises at the Alanbrooke Industrial Park near Thirsk for Prestwich-based Waterhill Property Group.
The park, which was acquired in a seven-figure deal, is expected to provide an initial annual yield of 7 per cent for the new owner.
The site, which also comprises land available for new development, features 39 units, including 14 which were newly built this year, ranging in size from 600 sq ft to 5,500 sq ft. It has good access to the A1M and the nearby Yorkshire market towns of Thirsk and Northallerton.
Naylors Gavin Black’s building consultancy department was also closely involved in the deal, providing a site survey.
Partner Chris Donabie said Alanbrooke was the first site the consultancy had acquired for Waterhill Property Group and that the two companies are aiming to further develop their relationship.
“There is strong demand in North Yorkshire from businesses looking for quality industrial space to accommodate growth and expansion,” he said. “Alanbrooke Industrial Park fits the bill perfectly with its great location and affordability for occupiers. I’m sure it will prove to be a very insightful acquisition for Waterhill as occupiers continue to be attracted to the site.”
Abraham Halpern, director at Waterhill Property Group, added: “For some time we have been actively looking for well-located industrial sites across the north of England and after being introduced to this estate by Naylors Gavin Black, we were attracted by the opportunity to grow our investment through active asset management. Units like these, which have benefited from investment to modernise and refurbish them, will always be sought after by regional occupiers.”
David Smith of DJS Property Consultants acted on behalf of the vendor.
