Full ownership of nursery manufacturer and retailer Mamas & Papas’ headquarters in Huddersfield has been acquired by a special purpose vehicle (SPV) held by funds managed by ARA Dunedin.
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.
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, close to 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 a modern, freehold logistics warehouse with strong tenants like this is high. Its location and Class A specifications have combined to provide an attractive investment opportunity for our client.”