Member Article

Birstall industrial warehouse seals new tenant following refurb

LRE Capital and Citivale have let their Oakwell 27 industrial unit in Birstall after carrying out a comprehensive £180k refurbishment of the unit.

According to the developers, bathroom retailer Cubico UK has taken a 10-year-lease at the 110,000 sq ft industrial warehouse in West Yorkshire, after LC Industrial embarked on a wholesale refurbishment effort once previous tenant Poundworld’s lease had ended.

LC Industrial was set up in 2015 by LRE Capital and Cityvale to invest in the UK’s industrial sector, and boasts a portfolio that includes Humber Enterprise Park amongst other assets.

Commenting on the deal, Rob Price, Director at property consultancy GVA, which negotiated the agreement, said: “Following the departure of Poundworld, our clients undertook a comprehensive refurbishment of the unit, which then presented very well and was ready for immediate occupation.

“Supply of modern second-hand units of this size in Yorkshire is extremely limited. With its excellent motorway accessibility, just off Junction 27 of the M62, and good specification, we were confident of letting the unit. So we are pleased to have secured the letting to Cubico, which will enable them to accommodate their considerable business growth.”

James Appleton-Metcalfe of Citivale added: “The comprehensive refurbishment of Oakwell 27 has created a modern and efficient distribution warehouse. The transformation is stunning. This has resulted in an excellent letting to Cubico UK, a leading player in the bathroom retail sector.

“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 with tremendous success.”

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