Shropshire-based Bradford Estates buys up two more industrial parks in north of England
Shropshire estates business Bradford Estates has purchased two industrial estates in the latest phase of its acquisition drive.
The business has purchased Wortley Business Park in Leeds and Rowan Industrial Park in Alton, Hampshire, and now owns 14 estates as part of its industrial portfolio, which is now in excess of 410,000 square feet.
Earlier this year the business bought up four industrial estates in Tyne and Wear, County Durham,Avonmouth and Gloucester, part of a long term investment strategy.
"We are delighted to have acquired the two latest additions to the Bradford Industrial portfolio, which fits with the implementation of our growth strategy," said Managing Director Alexander Newport.
"Both estates are situated in strong local economies with occupiers from a cross-section of business sectors who will benefit from a responsive approach to management and investment based on our long term approach to ownership."
Wortley Business Park, two miles west of Leeds city centre, is a development of 10 self-contained industrial units occupied by a range of local small to medium sized enterprises.
Rowan Industrial Estate is fully occupied with seven units used by businesses including an international lighting company, a local automotive repair business and the branch of a national decorator supplier, with a total floorspace of 16,000 square feet.
"The new acquisitions show how Bradford Estates has been proactive in delivering upon the investment plan which we announced last year," said Property Director Chris Hodson.
"As we work to achieve our long-term objectives of generating sustainable income and value growth across the portfolio we are looking for opportunities around further multi-let estates.
“We are grateful to our agent partners, AP Investment for the Leeds purchase and Ereira Mendoza for Alton, as well as our core acquisition advisors of Womble Bond Dickinson, Panovista Asset Management and Weston Allison Wright.”
The principal Bradford Estates asset is a 12,000-acre land holding on the Shropshire-Staffordshire borders used for regenerative farming, sustainable forestry, leisure, local housing and commercial use, including real estate investment and development.
The main Bradford Estates land holding sits at the confluence of M54, A5 and A41, halfway between Wolverhampton and Telford.
On-estates surplus buildings are being converted into commercial units for local companies under the Business Villages brand, with more than 200,000 sq ft already in use as workshops, storage, light industrial and retail uses.
