Full ownership of the head office of nursery manufacturer and retailer, Mamas & Papas in Huddersfield, has been acquired by a special purpose vehicle (SPV) owned by funds managed by ARA Dunedin Ltd.
The SPV acquired the entire 175,211 square foot site from Clearbell Capital for £8.425 million, reflecting a net initial yield of 5.91%.
The investment team of Leeds property consultancy Gent Visick (GV) acted for the SPV and Clearbell Capital was represented by CPP.
“It’s great to have added another high quality mid-size box to our portfolio, which is in a desirable location with a strong and well-known tenant in place,” said Gordon Kellie, Head of Origination at ARA Dunedin.
The modern building is in an established industrial site on Colne Bridge Road, 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-rise distribution warehouse connected to a two-story office building – until May 2029.
“This is the global headquarters and sole distribution center for popular baby brand Mamas & Papas, which has 30 stores across the UK and has been in business for over 40 years,” added Garry Howes, Chief Investment Officer at GV. “Market demand for modern freehold logistics warehouses with strong tenants like this is high. Its location and Class A specifications combined to provide an attractive investment opportunity for our client.
The modern unit also includes a showroom and exhibit space, a factory outlet open to the public, and ample parking.