We advised a joint venture between Barwood Capital and BA Pension Fund with Tungsten Properties acting as development manager, on the acquisition of a 13.1 acre site for £3.2m. The site is located just off Junction 32, M62 to the south east of Leeds and will accommodate a new speculative high specification distribution warehouse extending to 259,236 sq ft.
The UK’s regional industrial and logistics market continues to see unprecedented demand from both investors and occupiers for well-built and well-located warehouse stock. The development at Whistler Drive will provide desperately needed warehouse space for occupiers with the added benefit of turnkey design, fit-out, recruitment and project management solutions also being made available.
We thoroughly understand the complex relationships between occupier, developer and funder and provided our joint venture client with detailed and in depth analysis of both the investment and occupational logistics markets to support the site purchase and speculative development proposed. Once built, the building will have an anticipated gross development value (GDV) in excess of £27m.
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