Member Article

Property developer Sterling Capitol sells Barnsley and Goole assets for £7.1 million

Leeds-based property development and investment company Sterling Capitol has sold three assets at Barnsley and Goole for a combined total of £7.1 million.

Sterling Capitol has disposed of its share in the Capitol Court office building and eight hybrid units at Capitol Park Barnsley for £3.5 million to M7 Real Estate of London.

The company has also sold a 33,000 sq ft industrial unit, leased to Drax, to CBRE Investors for £3.6 million. CBRE Investors were advised by Mathew Atkinson in JLL’s Leeds office.

The deals were brokered by the Leeds office of global property consultancy Knight Frank, who represented Sterling Capitol.

Mike Heydecke, on behalf of Sterling Capitol, said: “These are important deals for us, as they allow us to concentrate on future developments at all three of our business parks at Leeds, Barnsley and Goole.

“We have some extremely exciting plans in the pipeline, which will create much-needed business space and jobs in both West and South Yorkshire.”

“In particular, Capitol Park Leeds is a tremendous success story and recent lettings and deals have taken it to the 1,500 jobs target for Phase One.

“It is one of the brightest stars of the Yorkshire out-of-town business park market and continues to attract first-class tenants. We are looking to build on this success.”

“As a company, we are extremely proud of what we have achieved at all three business parks. Job creation is at the heart of our plans and we have developed three of the most impressive business parks in Yorkshire, with an excellent mix of tenants and facilities. Premier business locations such as our three Capitol Parks remain popular in a testing economic climate”.

Henrie Westlake, head of investment at Knight Frank in Leeds said: “These are the most significant investment deals in Yorkshire so far this year. They graphically illustrate that the region continues to be popular with investors and underline that well-located assets, with proven occupiers on long-leases, will always prove attractive.”

“Sterling Capitol have a fantastic track record of developing quality business parks in strategic locations in Yorkshire. These deals are both a testament to the company’s achievements and a passport to future success.

This was posted in Bdaily's Members' News section by Clare Burnett .