Glenbrook acquires 40,000 sq ft Leeds I&L site
The developer’s investment team has bought 1-4 Whitehall Industrial Estate from Glenstone REIT for £3.55m.
Northcap advised Glenbrook’s investment team on investment and occupational matters, with Brabners undertaking legal due diligence, while M1 and Knights acted for Glenstone Reit.
Occupied by manufacturer Just Trays, the warehouse is 3.5 miles from the city centre and has a passing rent of £286,000 per year, contracted until 2029.
Whitehall Industrial Estate is also home to occupiers including Invicta, Carlac, and Burdens.
Glenbrook’s recent activity in Leeds also includes the sale of 5–6 Commercial Street, recently let to Popeyes, and the letting of the second and third floors at St Albions to flexible office operator, 2 Work.
Scott Griffiths, investment director at Glenbrook Investments commented: “1-4 Whitehall is a well-located, flexible industrial unit in close proximity to Leeds city centre, where market fundamentals remain highly attractive.
“This acquisition provides us with a good income return and several strategic options.
“As part of our ongoing business growth strategy, we will be looking at similar investment opportunities of this nature.”
