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Sportswear brand Puma takes 261,000 sq ft national distribution centre in Yorkshire

Sportswear brand Puma takes 261,000 sq ft national distribution centre in Yorkshire

The deal with Barwood Capital amd British Airways Pension Trustees, will see Puma take the newl-ybuilt unit at Glasshoughton in Yorkshire.

The deal with Barwood Capital amd British Airways Pension Trustees, will see Puma take the newl-ybuilt unit at Glasshoughton in Yorkshire.

PUMA has agreed a 15 year lease at a rent of £5.75 per sq ft.

The warehouse is on a 13-acre site at Whistler Drive, Castleford just off junction 32 of the M62, south-east of Leeds. It forms part of the wider Glasshoughton colliery redevelopment site undertaken by Waystone.

Puma already occupies 112,000 sq ft nearby at Batley.

Simon Venediger, finance director, PUMA United Kingdom said: “With over 40 years’ presence in Yorkshire and with a valuable and loyal workforce of 125 it was our priority to find a new distribution hub which would sustain our existing business and facilitate our exciting future growth plans.” 

 Following an unsolicited approach, the building has now been sold for £30.7 million to South African specialist industrial REIT, Equites Property Fund.  The net initial yield is 4.6%

CPP, Moriarty & Co and FSP acted on behalf of Barwood Capital and Tungsten Properties. Montagu Evans acted on behalf of PUMA. ACRE Capital Real Estate acted on behalf of Equites Property Fund. Biz Henderson’s Secure Start acted on behalf of PUMA as outsource service provider.

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