CPP to launch 260,00 sq ft speculative warehouse development in Glasshoughton
August 15th, 2018
CPP (Commercial Property Partners) has brokered a multi-million deal to facilitate a single 258,000 sq ft high spec, state of the art, grade A warehouse, helping to meet the high industrial and logistics demand in the local market.
The scheme, known as ‘Super G’, located just off junction 32 of the M62, south east of Leeds, is part of the Glasshoughton Development, developed by the vendor Waystone in partnership with Homes England.
CPP advised Tungsten Properties on the acquisition of the 13 acre, Super G site. Tungsten Properties subsequently worked with Barwood Capital, the Northampton-based real estate investment and development business on this joint venture to bring forward the scheme on a speculative basis.
Planning consent has now been secured and construction is due to commence later this month, with completion planned for 2019.
Toby Vernon, co-founding partner at CPP said: “We are delighted to be involved with this scheme. Super G will provide much needed speculative development in a prime Yorkshire logistics location. The warehouse market has performed particularly well across Yorkshire and we have been faced with growing demand and limited supply of grade A space.”
Jeff Penman, managing director, Tungsten Properties added: “Super G represents an important project in Tungsten’s continued growth. We look forward to getting on site in August.”
CPP acted alongside Franck-Steier Price on behalf of Tungsten Properties and LSH acted on behalf of Barwood Capital. The Letting Agents for Super G are CPP and Moriarty & Co.