Sale of a Warehouse in Bradford, West Yorks

Sold on behalf of Transmec to M7 Real Estate

The property is a 73,000 sq.ft warehouse situated in Low Moor, Bradford and was sold to regional UK Value Add fund, M7 Real Estate Investment Partners IX. The price was £3.5 million.

Charles Irvine acted on behalf of one of our Italian clients, Transmec. Transmec is a privately owned, Italian 3PL company operating globally.

Transmec have committed to a 15 year term on the property, which serves as their northern hub. As is normal practice in the Italian market, the lease incorporates rent indexation rather than rent reviews.

Douglas Babington Smith had this to say about the transaction; “Much of the current interest in the logistics market is focused on larger distribution warehouses, portfolios and estates. Single warehouses tend to get overlooked. Add to that factor the location of this warehouse and one has an issue of liquidity. But these units are just as essential to the operator as the warehouse of 500,000 sq.ft. One of Transmec’s objectives in the sale was to secure their long term occupation in Bradford.

This is a good quality warehouse situated on an established industrial estate, close to the M62. The price paid is well below replacement cost, without even factoring in the value of the land. This was a great deal for the purchaser and the seller.”