Investors have rushed for the headquarters of nursery manufacturer and retailer Mamas & Papas in a multi-million pound deal.
Full ownership of the Mamas & Papas building in Huddersfield has been acquired by a special purpose entity, owned by funds managed by ARA Dunedin Ltd.
The new owners acquired the entire 175,211 square foot site from Clearbell Capital for £8.425 million, reflecting a net initial yield of 5.91%.
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The investment team of Leeds property consultancy Gent Visick (GV) acted for the SPV and Clearbell Capital was represented by CPP.
Gordon Kellie, Origination Manager at ARA Dunedin, said: “It’s great to have added another high quality mid-sized box to our portfolio, which is in a desirable location with a strong and well-received tenant. known in place.”
The 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.
Garry Howes, Chief Investment Officer at GV, said: “This is the global headquarters and one-stop distribution center for popular baby brand Mamas & Papas, which has 30 stores across the UK and operates for over 40 years. 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 exhibition space, a factory outlet open to the public and parking.