Alliance celebrates Bradford full house
Property Alliance Group, which bought a 62,000 sq ft industrial property at Morley Carr Business Centre last year, has let the whole space.
Upon adding the 62,000 sq ft industrial property to its portfolio less than 12 months ago, Alliance has let four units to national textile distributor, John Cotton Group, with comprehensive enabling works provided as part of the asset management strategy.
International self-storage firm, Titan Containers, has also agreed terms for a 10-year lease of the 1.7-acre yard at the site.
Since acquiring the asset in 2022, Alliance has undertaken refurbishment and repositioning of the site, which comprises a 62,000 sq ft warehouse on a site of 4.75 acres.
Parts of the upgrade include new perimeter fencing, new security lighting and CCTV monitoring, yard works and modernisation of the internal space. As a result, Property Alliance have increased the passing rent by 45% in 12 months.
Constantine Thanopoulos, development surveyor for Alliance, said: “This building is located on a popular industrial park where there is a high demand for space but limited availability.
“We are delighted to have been able to move quickly to secure the opportunity off-market, the reward being that we have welcomed robust tenants, John Cotton Group and Titan Containers, to join other occupiers at the site, and added significant value to the property and estate.”
GV&Co acquired Morley Carr on behalf of Property Alliance Group and are the acting agent.
The firm’s Daniel Walker said: “We are delighted to have acted for Property Alliance Group for this off-market acquisition in Bradford.
“Once vacant possession was obtained, the ability to agree terms quickly for the new open market letting shows the continued strength of the industrial market and shortage of supply for quality industrial space in Bradford.”