Property business Bradford Estates has added two industrial estates to its portfolio in the latest phase of its strategic acquisition drive.
The Bradford-headquartered business, led by managing director Alexander Newport, has bought Wortley Business Park in Leeds and Rowan Industrial Park in Alton, Hampshire, adding 33,000 sq ft to its Bradford Industrial portfolio to reach 412,000 sq ft as part of a diversified growth programme.
Bradford Estates set out last year to acquire new assets requiring hands on asset management and refurbishment, to align with its long-term investment growth strategy.
Chris Hodson
Totalling 17,000 sq ft, 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 sq ft.
The two acquisitions build upon Bradford Estates’ existing portfolio of 12 institutional grade estates across England and Wales, which house occupiers including brands Screwfix, Halfords, Crown Paints, Euro Car Parts and Plumbase, as well as many regional and local enterprises.
In May Bradford Estates confirmed it had bought four estates: Wear Industrial Estate in Washington, Tyne and Wear, Kilburn Drive in Peterlee, County Durham, Link 49, Boscombe Business Park in Avonmouth on the outskirts of Bristol and 325 Bristol Road in Gloucester.
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.
Newport said: “We are pleased to have acquired the two latest additions to the Bradford Industrial portfolio, which fits with the implementation of our growth strategy.
“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.”
Rowan Industrial Park
The acquisition process has been led by property director Chris Hodson.
Hodson added: “The new acquisitions show how Bradford Estates has been proactive in delivering upon the investment plan which we announced last year.
“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.”