Commercial investor completes acquisition of £4.3m Cleckheaton business park

Property investment firm Parker & Parker Investments has taken its first step into Yorkshire’s commercial property market, with a £4.3m business park acquisition.
Woodland Park in Cleckheaton. (l-r): Nick Jethwa, G Herbert Banks; Chris Parker, Parker & Parker Investments; Ross Firth, LSH and Connor Rogers, Cushman & Wakefield.Woodland Park in Cleckheaton. (l-r): Nick Jethwa, G Herbert Banks; Chris Parker, Parker & Parker Investments; Ross Firth, LSH and Connor Rogers, Cushman & Wakefield.
Woodland Park in Cleckheaton. (l-r): Nick Jethwa, G Herbert Banks; Chris Parker, Parker & Parker Investments; Ross Firth, LSH and Connor Rogers, Cushman & Wakefield.

The Worcestershire-based company has bought Woodland Park in Cleckheaton – four two-storey buildings adjacent to junction 26 of the M62.

Set in landscaped grounds, the acquisition comprises 31,772 sq ft of modern office space.

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The offices at Woodland Park are fully let to fit out, technology and construction solutions company ISG Central Services.

Chris Parker, inset, of Parker & Parker Investments, said: “We are very pleased to have made this acquisition in what is a premier office site with great rural views within the extensive motorway network just outside Leeds.

“Parker & Parker continue to grow their portfolio with continued investment in prime sites both in industrial and office.

“We intend to invest a further £10m within the next two years in sites that offer further asset value improvement.

“Thank you to all parties who helped in the process.”

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G Herbert Banks provided acquisition advice alongside occupational advice from Lambert Smith Hampton (LSH).

Cushman & Wakefield acted on behalf of the vendor, a private investor.

Ross Firth, director of office advisory at LSH, said: “This is a great purchase for Parker & Parker Investments to further bolster their commercial portfolio, which they continue to add to with quality assets, such as Woodland Park.

“The acquisition offers a few angles from an asset management perspective and we are delighted to work closely with Parker & Parker going forward.”

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Nick Jethwa, of G Herbert Banks, said: “With an enviable position the accommodation lies adjacent to both open countryside and the M62/M606 junction.

“These grade A offices are ideally located for the out-of-town Leeds and Bradford markets, offering regional accessibility through both the motorways and a mainline rail connection only one mile distant.

“Through asset management, Parker and Parker Investments will be optimising the accommodation for tenants and also their own returns.”

Connor Rogers, of Cushman & Wakefield, added: “Whilst this sale represents a great result for my client, I am confident that the asset will also perform well for its new owners.”