DTZ - Leeds, Maybrook Industrial Estate

Date: 02 Oct 2009

Leeds industrial estate sold for over £5 million.

Acting on behalf of Phoenix Life Ltd c/o Ignis Asset Management, DTZ has sold Maybrook Industrial Estate in Leeds for £5,100,000, reflecting a net initial yield of 10.24%. Lafarge UK Pension Fund has bought the estate which currently generates an annual rent of £552,285.

Built in the early 1980's, Maybrook Industrial Park comprises 13 units totalling 110,321 sq ft. The estate is fully let by way of 12 tenancies to 5 tenants including Brake Bros Ltd, Clear Channel UK and Just Car Clinics Group Plc.

James Lawlor, senior investment surveyor at DTZ comments: "Through somewhat difficult market conditions DTZ is delighted to have successfully completed this disposal. The strong asset management programme that had been implemented by DTZ and Ignis during the lead up to the sale allowed us to maximise the price. This disposal demonstrates that investor demand does exist for good quality assets where they are priced correctly. "



This is the second deal Phoenix Life Ltd has recently completed in the north of England. It follows the disposal of Lakeside 5000, the global HQ of Umbro, at Cheadle Royal Business Park, South Manchester for £8,700,000. DTZ again advised Phoenix Life.



Christopher Dee advised the purchaser Lafarge UK Pension Fund.

Maybrook Industrial Park

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