A huge former Argos distribution centre in West Yorkshire is set to be refurbished following its acquisition.
Sainsbury’s, represented by Colliers International, has sold the former Argos distribution centre at Wakefield Europort near Leeds.
The 400,000 sq ft part high bay distribution facility is set on a site area of 20 acres and includes 36 loading doors, extensive yard areas and ancillary office space.
Broadland Properties, represented by Carter Towler, has acquired the unit. The company will now carry out a full refurbishment of the warehouse and bring to market space between 100,000 – 400,000 sq ft, available to let from the second quarter of 2020.
Robert Whatmuff, head of the industrial and logistics team at Colliers International in Leeds, said: “The continued advancement of e-commerce in today’s market place has meant the strong appetite for logistics properties from both investors and occupiers continues.
“The newly branded California 400 facility will offer large scale, flexible accommodation at one of the North’s premier distribution locations.”
Gidon Amar of Broadland Properties added: “Wakefield Europort is an incredibly strategic location with immediate access the M62, M1 and A1 Motorways. The property has strong operational characteristics, vast yard areas, three access points and a low site cover which will allow us to be versatile with a wide range of occupier requirements. We will implement a refurbishment programme and offer the property to the market on competitive terms.”
Carter Towler director Jacques Esterhuizen concluded: “The investment fundamentals of this property make absolute sense. It comes at a time where supply levels in West Yorkshire are at an all-time low. Being able to offer functional space on economic terms is a real advantage.”
Colliers has been retained as letting agent on the property alongside Carter Towler.
Other occupiers at the Wakefield Europort industrial estate include DHL, Bibby, Haribo, Warburtons, ASDA and The Range.