Member Article

Batley warehouse is placed on the market after £300,000 refurb

Oakwell 27, an 110,000 sq ft modern industrial warehouse at Batley, West Yorkshire, has been placed on the market to lease this week after a comprehensive £300,000 refurbishment.

The refurbishment has been undertaken by LC Industrial, a tie up between LRE Capital and Leeds-based Citivale.

Oakwell 27 is part of a 500,000 sq ft five-property UK industrial portfolio, which LC Industrial bought last year.

The asking rent is £4.50 per sq ft.

The state-of-the-art warehouse, which is just half a mile from Junction 27 of the M62 and M621 motorways and less than six miles from the city centres of Leeds and Bradford, features high-quality offices and secure and spacious parking.

James Appleton-Metcalfe of Citivale said: “The comprehensive refurbishment of Oakwell 27 has created one of the most modern and efficient distribution warehouses in West Yorkshire. The transformation is stunning.

“LC Industrial’s expertise lies in buying secondary assets and using our combined skills and knowledge to reposition these assets through comprehensive refurbishment and development. This is what has been done at Oakwell 27.

“We feel the overall five-property UK industrial portfolio offers significant value-added potential through a focused capital expenditure programme, letting of vacant units and lease re-gears. The transformation of Oakwell 27 is a good example of the portfolio’s potential,” said Mr Appleton-Metcalfe.

The marketing agents of Oakwell 27 are the Leeds offices of GVA Bilfinger and Gent Visick.

Apart from Oakwell 27, the portfolio comprises a single-let property in High Wycombe and three multi-let buildings in Edinburgh, Warrington and Knowsley.

Meanwhile Jeff Carson of LRE Capital explained: “LC Industrial has built a portfolio value of circa £50m over the past 18 months. Our focus has now turned to executing the business plans and delivering superior returns to investors.”

LC Industrial’s portfolio includes the pioneering Humber Enterprise Park at Brough. The 79-acre park includes circa 1 million sq ft of high-quality office and industrial space, 20 acres of development land and benefits from Enterprise Zone and Assisted Area Status which offers significant incentives to attract new occupiers.

So far £2.5 million has been spent on regenerating the whole site, described as “a jewel in the Humber’s crown” with another £4.5 million earmarked for further improvements. It is estimated that 1,600 new and sustainable jobs will be created when the park is fully developed during the next five years.

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