Real Estate advised Equites Property Fund on the acquisition of a state-of-the-art, 261,000 sq ft distribution hub in Wakefield known as ‘Super G’. Equites acquired the investment for £30,675,000.
'Super G’ is a prominent 13-acre site on Whistler Drive, Castleford just off junction 32 of the M62, south-east of Leeds. It forms part of the wider Glasshoughton colliery redevelopment site undertaken by Waystone.
Following practical completion, the building quickly let to Puma (one of the largest sportswear manufacturers in the world) on a 15-year lease at a rent of £5.75 per sq ft, with a tenant break option in year 10. The lease benefits from five-yearly RPI-linked reviews with a collar and cap of 1%-3%.
The Mishcon team was led by Real Estate Partner Anju Suneja, with assistance from Real Estate Consultant Arnaud Montagna, Construction Managing Associate Phoebe McLarty, Planning Consultant Martyn Hanmore and Real Estate Tax Head Jonathan Legg.