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LEEDS, 24 November 2016 - Sterling Capitol, has sold a distribution unit at Capitol Park, Leeds, for £4.77m.Occupied by medical devices supplier DePuy International, the 68,230 sq ft building has been bought by an institutional investor, advised by JLL.The deal represents a yield of 6.25%, with a passing rent of £4.80 per sq ft with six years remaining on the lease and some outstanding rent free.Andrew Summersgill, director at JLL who advised the purchaser, said: "This is a unique opportunity in the South Leeds market which is set to benefit from the shortage of good quality warehousing stock in the area.“It also demonstrates the continued appetite for good quality investments and reflects the continued confidence in the industrial real estate sector."Mike Heydecke, director of Sterling Capitol, said: “Capitol Park itself is a tremendous success story and recent lettings and deals have taken it to the 1,600 jobs target for Phase One. It is one of the brightest stars of the Yorkshire out-of-town business park sector and continues to attract first-class tenants.”Capitol Park is home to the likes of Hermes, Barratt Homes, the NHS, Henderson Insurance Brokers, Village Hotel, Ideal Heating and AvailableCar.com.
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