A long income and strategic land opportunity at Stamford Bridge near York has been sold in a multi-million-pound deal to well-known North Yorkshire property group, Broadland Properties.
The site, known as Bridge Works, has been sold by Columbia Threadneedle, which was advised by the investment team at Leeds property consultancy, GV&Co. Scarborough based Broadland Properties was represented by CBRE.
Bridge Works is let to global manufacturer, XANDOR Automotive and offers 143,989 sq ft. of buildings and office space, within a 7.41 acre site, with more than nine years unexpired on the lease.
Garry Howes, director of investment at GV&Co, said: “Bridge Works is a very well-maintained, income producing prime strategic investment opportunity, located in an affluent area, just five miles from the City of York. When this is combined with the fact that it is let to a global company and offers asset management potential through the regearing of the lease, we were able to generate significant interest in it from both local and national investors.
“As a result, the sale to local company Broadland Properties, completed just 12 weeks after we were instructed, which is a great result for our client and continues to demonstrate the amount of demand and capital in Yorkshire for robust investment opportunities.”
Senior director, Alex Whiting, from CBRE, said: “We were happy to advise Broadland Properties on this purchase. With a reliable tenant and good investment potential, the deal made perfect sense.”
GV&Co is a leading property consultancy providing support during acquisitions, sales, lettings and investment transactions, with offices in Leeds and London. Its services include industrial agency, building surveying and project management, investment, and lease advisory and asset management.