Multi-let industrial estate in Leeds changes hands for £2.94m

Ilkley-based property development and investment firm Glentrool Estates Group has acquired a multi-let industrial estate in Leeds.

Glentrool snapped up Astra Park, located on Parkside Lane in Hunslet, for £2.94m from the John Laing Pension Fund.

Spanning nearly 72,000 sq ft, the estate has 16 units occupied by tenants including Rhodar Ltd, Thermo Logistics, The Leeds Sofa Company and Avanta UK Ltd.

Spaces at Astra Park range from 2,576 sq ft to 10,342 sq ft.

Lauren O’Toole, property portfolio manager at Glentrool, said: “This is a significant purchase for us, underlining the fact that we are now actively on the acquisition trail.

“We are looking to expand and diversify our portfolio.”

She continued: “Astra Park ticks many boxes. It is fully let, with excellent tenants on strong covenants. There is potential to proactively manage the park, by improving the quality and the standard of the estate.

“There is also space to expand and develop the park in the coming years.”

The Leeds office of property consultancy Lambert Smith Hampton (LSH) advised Glentrool on the deal. John Laing Pension Fund was advised by the Leeds office of JLL.

Luke Symonds, director for capital markets at LSH, commented: “It has been great to work alongside Glentrool Estates on the acquisition of Astra Park, a well located, multi-let estate with undoubted asset management potential.

“Finding value in industrial space is a rarity in the current market and we look forward to seeing how Glentrool bring this estate forward”.

Glentrool has appointed Carter Towler as the managing agents for Astra Park.

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