Elmfield Business Park

Elmfield Business Park in Garforth, Leeds has been acquired by Dove Haigh Phillips on behalf of Huddersfield based Royds Properties for £1.25m from Valad (Equity Partnerships Osprey).

The acquisition of the 22,000 sq ft 12 unit industrial estate reflects a net initial yield of just over 9%, with a number of asset management opportunities.

Mark Nicholson of Dove Haigh Phillips comments: “There was strong interest in the property from a range of purchasers which shows the revival in investor demand for this type of product, we were therefore delighted to secure the purchase of this investment for our client.”

“We have already completed a lease renewal to Wolseley (Plumb Centre) for a further 5 years and agreed terms for a new occupier on the estate.”