Knight Frank’s multi award-winning Yorkshire industrial and logistics team has sold 12.5 acres of prime industrial development land at Glasshoughton on behalf of land reclamation, regeneration and development specialist Waystone.
The site, branded ‘Super G’ is well located adjacent to Junction 32 of the M62 and forms part of the 336-acre former Glasshoughton Colliery and Coke Works which has been re-engineered by Waystone over the past 20 years and is now home to high-profile occupiers including Motorpoint, Teva Pharmaceuticals, Really Useful Products and Dalziel.
The site has been acquired by the joint venture consisting of Northampton-based investment and development company Barwood Capital and the BA Pension Fund along with development manager Tungsten Properties for £3,675,000.
Planning has been successfully granted for a 258,000 sq ft high specification warehouse, which will be the largest single speculative ‘big-shed’ in the West Yorkshire region once completed.
Helen McLoughlin, Development Director at Waystone commented: “We are very pleased to have concluded this deal. The creation of the Super G site has involved a complicated earthmoving exercise with extensive testing and monitoring controls to facilitate development platforms for residential and commercial development.”
Iain McPhail, partner at Knight Frank who heads up the Leeds industrial and logistics team stated: “We are delighted to have advised Waystone on this prestigious instruction. The site occupies a very prominent plateau just off Junction 32 of the M62 which is an ideal location for occupiers to benefit from the region’s excellent motorway network.”
Waystone have been securing planning consents on several other large-scale strategic mixed-use sites in the Midlands and the North of England including Unity in Doncaster, Clowne and Shipley Lakeside in Derbyshire and plan to commence work on them over the next twelve months.
CPP advised the Barwood / Tungsten JV and Knight Frank’s Leeds Industrial and logistics team advised Waystone.