Gazeley, has announced the purchase of a 281,000 ft² (approx. 26,130 m²) high specification distribution warehouse at Wakefield Europort, West Yorkshire’s premier distribution park.
The building, to be marketed as G.Park Wakefield Europort, is the largest logistics warehouse currently available on the Wakefield Europort site and sits immediately adjacent to the M62 Motorway - one mile from junction 31. The unit is currently being refurbished with completion expected in April 2014.
Wakefield Europort is widely regarded as the region’s most successful and established distribution park and is home to many leading brands including Asda, Warburtons, Argos, TK Maxx, Kuehne and Nagel and Royal Mail.
Speaking about the acquisition, Senior Development Director Bruce Topley commented: “Gazeley is focused on growing its business through the strategic acquisition of industrial assets including vacant warehouses, land banks and other appropriate income producing industrial assets. The acquisition of this Grade A warehouse is in keeping with this strategy and is a significant addition to our UK logistics asset portfolio. Wakefield Europort is a fantastic location from which our customers will be able to unlock the potential of Northern England. We believe that it will prove to be a compelling proposition for new and existing customers alike.”
G.Park Wakefield Europort is the second major acquisition made by Gazeley in as many months. The announcement follows the acquisition, made at the start of December, of an 18.5 acre strategic logistics site in Daventry in the Midlands of the UK, able to accommodate new-build logistics warehouse opportunities in excess of 250,000 ft² (approx. 23,225 m²).
Moriarty & Co advised Gazeley on the purchase. JLL advised the vendor.