Langtree acquires £1.4m industrial unit in Leeds
Langtree's property investment arm has added to its portfolio with the acquisition of a 32,000 sqft industrial unit for £1.4m at Centre 31 in Normanton.
The detached unit was constructed in 2000 to an institutional standard and includes integral two-storey offices and separate secure car park/yard areas, all on a 2 acre site.
Richard Ainscough of Langtree said “We are pleased to have acquired this property which further strengthens our investment portfolio in Yorkshire, having completed the acquisition of the balance of the Networkspace portfolio from The HCA in November of last year. We have now directly invested more than £10million in the last 12 months and we will continue to look for opportunities to acquire quality industrial properties across the north of England.”
The investment is currently held on a long-term lease to electrical company British Electric Lamps Ltd.
Langtree was represented in the acquisition by Stewart Montrose.
Langtree operates a diverse portfolio directly and Joint Venture property totalling more than 4 million sqft comprising industrial estates, trade parks and offices across the north and midlands of England.