Member Article

DHP broker deal for prime 167,000 sq ft industrial property in South Leeds

Leading Yorkshire property consultants Dove Haigh Phillips (DHP) have brokered a significant deal at Howley Park in Morley in south Leeds.

DHP have sold the former Kodak warehouse /industrial and office complex of 167,130 sq ft on a 7.6 acre site to Leeds-based property company J Pullan and Sons on behalf of Kodak.

The price was undisclosed.

Mike Haigh, a partner of Dove Haigh Phillips commented: “This is an important deal, reflecting the size of the warehouse, its large secure yard and excellent location. It is an endorsement of the strength of the Leeds industrial property market.

“The sale followed a global review in which Kodak decided the property was surplus to requirements, so it was offered for sale with vacant possession.

“It was an intricate deal, which we were delighted to conclude and to help Kodak dispose of a freehold asset they didn’t need any more. There is an adjacent long leasehold warehouse, comprising 43,000 sq ft, which we are now marketing on behalf of Kodak,” explained Mr Haigh.

Bruce Strachan, property director of Pullans, said: “We own other land adjacent to this warehouse at Howley Park, so it made perfect sense to buy the building to consolidate our property holdings.

“The building has great potential. It is available now to lease, but we are planning to carry out selective demolition and refurbishment work. We are expecting a strong level of interest, given its size, location and the under supply of industrial property in the Leeds market.

“Howley Park provides direct access to the M62 motorway at Morley, both at Junction 27 (Gildersome M62 West) and Junction 28 (Tingley M62 East), providing an immediate connection to the Trans Pennine and M1 motorway corridors,” said Mr Strachan.

The estate is well-established with many leading commercial occupiers including Asda, DSGI and parcel delivery company DPD.

The immediate area is densely populated and a wide range of local and regional amenities are available in Morley town centre, Birstall Retail Park and the White Rose Shopping Centre which are all within close range of the site.

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