Member Article

Knight Frank and Gent Visick advise on the sale of ex-TC Bathrooms' warehouses

The Yorkshire team of global property consultancy Knight Frank and Leeds-based logistics specialist Gent Visick have advised on the sale of three warehouses in Yorkshire, which belonged to Traditional Contemporary Bathrooms Limited, on behalf of administrators EY.

Rebecca Schofield, Partner at Knight Frank Sheffield, commented: “To be instructed by EY was a major coup for our Yorkshire industrial team and, with the support of Gent Visick, we were all keen to impress.”

The warehouses, at Bretton Park, Dewsbury and Jubilee Way, Grange Moor, near Huddersfield, were bought for undisclosed sums.

The 204,000 sq ft warehouse at Bretton Park has been bought by UK Greetings Cards, to add to their current ownership in the immediate surrounding area. They were not only attracted by the proximity to their headquarters, but also by the quality of the facility, and the savings available to them from the existing fit-out of the building.

The two units at Grange Moor, 50,000 sq ft and 30,000 sq ft respectively, have been bought by DG Asset Enterprise Limited for their own occupation and part-investment, allowing them the opportunity for the expansion of their business in the future.

Darren Green, managing director of leading Internet home furnishings retailer Green and Brown, commented: “Grange Moor is a fabulous location for our expanding company, which is why we have bought one of the warehouses for our own occupation – and the other as an investment.”

EY specifically commented on the success of the joined-up approach of Knight Frank and Gent Visick, whose teams complemented each other throughout the sale process.

Tom Lamb, industrial property specialist at Knight Frank in Leeds, commented: “These are significant deals in a gradually improving market and due to the limitations of stock across the region and the product quality, we saw significant interest in all 3 of the units.”

Unit 800 at Bretton Park was constructed in 2008 and comprised a purpose-built single storey steel framed warehouse in four bays, with ancillary three-storey offices on a site of some 10.3 acres.

Andrew Gent commented: “At the time of the disposal the property was one of only a handful of facilities across the region of circa 200,000 sq ft and we found that the more footloose occupiers were willing to consider the facility as a cost efficient alternative to turnkey developments on the more traditional motorway located sites.

This was posted in Bdaily's Members' News section by Robert Beaumont .