Invista buys Leeds industrial estate
Invista Real Estate has bought Gildersome Spur industrial estate in Leeds for £17.5m.
The 24 acre estate holds around 45,000 sq ft and was bought from Standard Life Investments. It is situated opposite junction 27, near the M62 motorway. It generates a rental income of £1.44m per annum and is 90% let to tenants including DHL and Next. Standard Life had owned the asset for over 40 years.
Mike Curtis of Mike Curtis & Co, property investment advisors, who acted on behalf of Standard Life, said:
“At a time when much of the interest and the talk of recovery in the commercial property sectors might be perceived as ’London-centric’, this sale illustrates the strength of demand for ’institutional grade’ investment product in major provincial centres such as Leeds.”