Barnsley unit sold for £30m

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Investors have agreed a £30m deal for a logistics and distribution centre in Barnsley.

The giant unit on Park Spring Road has been bought by a joint venture between Credit Suisse and Westmount Real Estate.

It is currently let to fitted bedroom, kitchen and bathroom supplier Symphony on a 25-year lease.

It is the second of Symphony’s leased industrial units to change hands in recent months, after a £14.6m deal was struck for its Rotherham industrial unit in September.

Sheffield-based agency Commercial Property Partners advised Credit Suisse and Westmount Real Estate on the deal, while Knight Frank acted on behalf of the vendors.

CPP partner Toby Vernon said logistics and distribution has had a stellar year, which he expects to continue into 2015.

He said: “The strength of the logistics and industrial distribution sector in South Yorkshire, driven by a skilled and competitive labour force and an excellent motorway network, is proving highly attractive with investors.”

In addition to the Barnsley distribution unit, Knight Frank also advised the sellers of Symphony’s Rotherham site.

Partner Henrie Westlake said: “This is one of the most significant investment deals in Yorkshire this year.

“The region continues to be popular with investors and this sale underlines that well-located assets, with proven occupiers on long-leases, will always prove attractive.

“The investor demand for logistics has never been stronger. This is true nationwide, but in Yorkshire in particular.”

There was an “enormous weight of money” flowing into the sector, he added.