Cubico, the bathroom fitting distributor, has signed up for a 110,000 sq ft warehouse in West Yorkshire.
The deal with LRE Capital and Citivale sees Cubico take Oakwell 27, an 110,000 sq ft modern industrial warehouse at Birstall, following a comprehensive £180,000 refurbishment.
Cubico has taken a 10-year lease on the former Poundworld unit. The rent is £4.50 per sq ft.
The refurbishment has been undertaken by LC Industrial, a tie-up between LRE Capital, led by Sassan Ahsani and Leeds-based Citivale. LC Industrial was launched in 2015 to invest in the UK industrial sector.
The deal was negotiated by Rob Oliver, director at property consultancy GVA in Leeds. He commented: “Following the departure of Poundworld, our clients undertook a comprehensive refurbishment of the unit, which then presented very well and was ready for immediate occupation.