Eddisons has acquired the freehold interest of the Alpha Building on Euroway Industrial Estate in Bradford on behalf of temperature control specialists ICS Cool Energy.
The investment will see ICS, which has operations across the globe, relocate from its existing premises in Caspian House on East Parade in Little Germany to the 30,000 sq ft warehouse on the industrial estate off Wharfedale Road, next to the M606, south of the city centre.
Eddisons’ Leeds-based team acted on behalf of the company, to purchase the freehold of the single storey warehouse, which was on the market for £1.3m through Knight Frank on behalf of previous owner-occupiers, Maccess, the car parts and accessories wholesaler.
Alex Wilkinson, senior surveyor at Eddisons, said: “Large warehouse sites such as the Alpha Building are becoming increasingly hard to find, especially in a prime location and with good motorway access.
“Being able to support ICS in its development by securing a substantial facility that will accommodate its long term growth plans is particularly rewarding and we look forward to seeing the company’s continued success.”
Adam Spolnik, director of ICS Cool Energy, commented: “Having recently acquired the freehold on a 90,000 sq ft facility in Southampton, our board was very keen to invest in another freehold. We’ve worked with Eddisons for a number of years and were confident they would get this purchase over the line for us.
“The Alpha Building offers great potential for a change in our operation and hugely increases our capabilities to support our core industrial customer base across the M62 corridor, the North East and Scotland, while giving a fantastic working environment for our staff.”
Nick Prescott, associate at Knight Frank, who represented the vendor, added: “The Euroway is one of Bradford’s premier industrial estates and, combined with the pent-up demand the city is currently experiencing, we knew the Alpha Building would be highly sought after.
“Occupiers searching for warehousing in the region are having to re-think their approach and accept that they may well have to pay the asking price to secure the right premises – discounts on second-hand warehousing are becoming a thing of the past.”
Large warehouse sites such as the Alpha Building are becoming increasingly hard to find