Malcom Group, the Scottish logistics operator, has taken a 10-year lease on a 135,000 sq ft Yorkshire warehouse.
Acting on behalf of Wilton Developments, CBRE’s Leeds Industrial Agency team has leased the 135,000 sq ft Latitude 135 industrial unit near Wakefield, West Yorkshire to the Renfrewshire-based road, rail and warehousing business.
This is Malcolm Group’s first venture into Yorkshire. The rent is £4.55 a sq ft.
Latitude 135 is close to Junction 31 of the M62 motorway, and is an extension to the acclaimed Wakefield Europort which provides daily rail access to Europe via the channel tunnel. Europort occupiers include Asda, Argos, DHL, and TKMaxx.
Mike Baugh, senior director at CBRE Leeds, and an advisor on the deal, said: “The letting to Malcom Group is one of the largest industrial transactions to complete within West Yorkshire this year and signals incredibly positive news for the regional logistics sector. High take-up levels last year led to a shortage of quality, ready-to-occupy stock and as a result, units such as Latitude 135 have been in high demand.”
Malcolm Group’s new base comprises a 131,109 sq ft warehouse with 4,153 sq ft of offices. Wilton Developments also owns a further 4 acres adjacent to the site which could accommodate approx. 60,000 sq ft.
CBRE acted for Wilton Developments alongside Carter Towler and LSH and Pollock Property Advisors represented Malcolm Group.