Leading Yorkshire property consultancy Dove Haigh Phillips (DHP) has completed two significant industrial property deals in Bradford.
DHP has advised Barwick Bathrooms Distribution LLP on the letting of a 190,877 sq ft distribution warehouse in Hollingwood Lane, Bradford.
Barwick Bathrooms, who have relocated from the nearby Euroway Industrial Estate, are paying £2.90 per sq ft on a 10-year-lease.
The warehouse was previously occupied by Chesapeake Packaging and is owned by a private investor.
Gary Campbell, managing director of Barwick Bathroom Distribution, commented: “We have recently enjoyed a number of years of consecutive, sustained growth which has led to us out-growing the existing operational footprint.
“This growth has resulted more jobs and the need for increased storage space to meet the increased demand from its customer base of independent bathroom showrooms.
“We identified potential premises but needed a team of experts who understood the property market and who could bring national expertise into a local situation.
“Dove Haigh Phillips came highly recommended as we needed a team who could offer a personalised service to support the commercial aspects of acquiring such a large property along with the industry contacts to recommend the various specialised support services as and when required.
“We were very pleased with the service received and commercial deal achieved by the team at Dove Haigh Phillips,” added Mr Campbell.
DHP has also brokered a deal at Dawson Lane, Bradford, by the M606 in south Bradford on behalf of Hallmark Cards.
Huddersfield-based home goods store Home Discount has bought a self-contained 180,500 sq ft warehouse at Dawson Lane for an undisclosed sum.
Mike Haigh, a partner and co-founder of DHP, commented: “These two prestigious and substantial deals are graphic and reassuring illustrations of the strength of the Bradford industrial property sector in these challenging economic times.
“The Hollingwood Lane site is well-established as an excellent distribution location in west Bradford, while Dawson Lane occupies a prime industrial position with easy access to the A6177 ring road, the A650 Wakefield Road and the M606 and Junction 26 M62 corridor. Bradford also enjoys good labour demographics, which is a major asset,” said Mr Haigh.
The Dawson Lane site became available after Hallmark’s decision to move its headquarters to Dawson Lane from Hallmark House in Bingley Road, Bradford. The move brought Hallmark’s head office operations closer to its distribution operation and freed up the 180,000 sq ft warehouse for sale.
The strength of Bradford’s industrial property market has also been confirmed by the success of the pioneering Newhall Business Park, constructed and developed by leading Bradford developer Frank Marshall Estates. The park, which is the first speculative industrial development to be built in Bradford since the recession, will create 120 sustainable new jobs.
Frank Marshall Estates bought the five-acre business park, part of Prologis Park, from Prologis for an undisclosed sum. Outline planning for eight business units, totalling 38,000 sq ft, has been granted by Bradford City Council. Six have now been let.
Edward Marshall commented: “We are tremendously excited by the success of Newhall Business Park, which rewards our faith in developing it speculatively. Newhall occupies an exceptional position at the top of the M606 to the south of Bradford city centre and is just minutes away from the hub of Yorkshire’s excellent motorway network. The location is superb, arguably the best for industrial property in Bradford.”
The rents for the industrial units will be in the region of £7.50 per sq ft, while the quoting office rent is £15 per sq ft.
Mike Haigh commented: “This is a prime development site in a premier location. Marks and Spencer’s hugely successful regional distribution centre is next door, underlining the excellent transport links and the success of the site.”