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News Release

Leeds

Manufacturer buys South Yorkshire industrial units in Jones Lang LaSalle deal


Leeds, 31st January 2012  - A former vehicle motor auctions site in South Yorkshire has been sold in a £1.8m deal.

Units 1 & 2 Canklow Meadows Industrial Estate, West Bawtry Road, Rotherham, previously the base of Manheim Motor Auctions which closed last year, have been sold for £1.855m by the National Industrial & Logistics team at the Leeds office of property consultants, Jones Lang LaSalle and the Leeds office of property consultants GVA.

The freehold for the two units, in which Jones Lang LaSalle and GVA acted for Cluttons Investment Management, London, representing Harmsworth Pooled Pension Fund, has been acquired by Sheffield-based industrial fasteners and civil engineering business, Cooper & Turner.

The 4.6 acre site comprises two industrial or warehouse units totaling 62,913 sq ft.

Head of Jones Lang LaSalle's National Industrial and Logistics team, Richard Harris, a director, who brokered the deal, said: “In spite of uncertain economic times and a shortage of funding in the property market, this is a manufacturing business which is trading successfully as it was able to fulfil the freehold acquisition out of its own funds.

“Manufacturing businesses, and particularly those which export, clearly need to be supported as part of moves to re-balance the UK economy and we are pleased to have helped this business to expand in the current tough economic climate which shows that there is an appetite for well-located, good-quality existing property with plenty of land. Several parties were bidding for this site and we had to go to two closing dates.”
 
As well as several strategic locations in the UK at Sheffield, Glasgow, Rotherham and Bradford, Cooper & Turner, has bases in China and Denmark which allow the business to support customers globally.