Investors have swooped for the headquarters of nursery manufacturer and retailer, Mamas & Papas in a multimillion-pound deal.
The freehold for the Mamas & Papas building in Huddersfield has been acquired by a special purpose vehicle, owned by funds managed by ARA Dunedin Ltd.
The new owners have acquired the entire 175,211 sq ft site from Clearbell Capital for £8.425m, which reflects a net initial yield of 5.91%.
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The investment team at Leeds property consultancy Gent Visick (GV), acted for the SPV and Clearbell Capital was represented by CPP.
Gordon Kellie, head of origination at ARA Dunedin, said: “It’s great to have added another high quality, mid-sized box to our portfolio, that is in a sought-after location with a strong and well-known tenant in place.”
The building sits within an established industrial site on Colne Bridge Road, which is less than two miles from Junction 25 of the M62 Motorway.
Mamas & Papas has been based there for almost eight years and has leased the site, which includes a high bay distribution warehouse connected to a two-storey office building, until May 2029.
Garry Howes, director of investment at GV, said: “This is the global HQ and sole distribution centre for well-known baby brand Mamas & Papas, which has 30 stores across the UK and has been in business for more than 40 years. Market demand for modern freehold logistics warehousing, with strong tenants like this is high. Its location and grade A specification combined to deliver an attractive investment opportunity for our client.”
The modern unit also includes showroom and exhibition space, an outlet shop that is open to the public and parking.
