Commercial People understands that the global commercial property firm CBRE has purchased a significant industrial development in South Yorkshire.
CBRE Investment Management has acquired the Wilton Developments-built 80,500 sq ft warehouse scheme at Enterprise 36 in Tankersley, South Yorkshire, for an undisclosed price.
The Market-leading, specialist construction solutions services provider, USL, has also agreed to a 20-year lease on the unit for its new HQ. The unit provides a new headquarters for the USL Group, which provides its services to the telecoms, utilities, construction and energy sectors.
Commenting on the purchase, Ian Fairweather, Director, CBRE Investment Management, said: “With a shortage of modern, high-quality industrial warehousing across Yorkshire, especially in the mid box sector, we are excited to have capitalised on this rare opportunity at Enterprise 36. Built to a modern specification and less than one mile from the M1, the unit offers a compelling investment rationale and we anticipate consistent returns for our investors.”
CBRE Investment Management also recently acquired the adjoining vacant 77,500 sq ft Unit 2 from Wilton Developments.
The Enterprise 36 development was supported by Barnsley Council’s Enterprising Barnsley investment team and its nationally recognised BMBC Property Investment Fund.
Jason Stowe, Managing Director of Wilton Developments, said, “This is the final piece in the jigsaw of our very successful Enterprise 36 scheme in Barnsley. We are particularly pleased for BMBC that all of the occupiers we have accommodated on the scheme have maintained and indeed expanded on their businesses within the Sheffield City Region. This is good for Barnsley but also good for the region as a whole. We look forward to announcing further investment in the City Region early in the New Year.”