Over 100,000 square feet of industrial space has been sold to Cross Green Industrial Estate in Leeds.
Representing the SADEL group, real estate consulting firm Gent Visick (GV) oversaw a competitive bidding process, before selling the five-acre site, which includes seven light industrial, warehouse and commercial counter units. , in Mileway. The units cover 108,179 square feet in total.
The SADEL group is a private investment company based in Luxembourg with an active portfolio of several billion pounds.
The seller was advised by Matthew Wallis at Kuits Solicitors. CBRE Leeds acted as purchasing agent.
Associate Director Dan Walker, GV, said: “Cross Green Industrial Estate is one of the city’s premier industrial addresses in a highly desirable location. Following the purchase of the domain by the SADEL group in 2015, GV was appointed to undertake full asset management. project involving lease renewals and rent revisions, and this sale is now a fantastic result for our client.
“We have generated significant interest in the fully leased investment, which is just two miles from Leeds city center and close to the M1 and M62 motorways.
“The tenants include a mix of well known trading outlets, manufacturers and distributors and the site has provided a very attractive investment opportunity, which has been reflected in the level of interest and the number of offers we have. generated. “
Henry King, CBRE Leeds, added: “Cross Green Industrial Estate is very well located on the outskirts of Leeds city center in a market with extremely limited supply. The investment also offers a highly reversible income stream to a strong and diverse mix of tenants. and we look forward to working with our client to take advantage of future asset management opportunities. “