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.
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.
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.”
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.”
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.”