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News Release


West Yorks industrial estate acquired in investment deal

A multi-let West Yorkshire industrial estate has been acquired in a new investment deal.
Eurolink 31, Normanton Industrial Estate, has been acquired for £2.2m by the Investment Team at property consultants Jones Lang LaSalle acting for Lancashire-based Strang Investments LLP.
The 49, 181 sq foot estate, which was marketed for seller, Standard Life Investments, through Leeds agents Steadman Brierley, has tenants including Aquados Ltd, Car Finance Ltd, and SCS Components Ltd on leases expiring between 2014 and 2020.
Eurolink 31 has a current total annual rental income of £225,000, an average of £4.59 a sq foot, which represents a 9.7 per cent yield.
Jones Lang LaSalle Investment Team director, Andrew Summersgill, who led the acquisition, says: “This is a good example of the level of return that is attracting smaller investors back to commercial property where the underlying characteristics are robust.  This is a good quality estate in a prominent location with diversified exposure to several tenants.”
Property consultants King Sturge merged with Jones Lang LaSalle on June 1. The UK business now has 2,700 staff across 34 offices including Leeds. Globally, the firm has 17,100 staff in more than 220 offices.
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