Glenbrook Investments builds Yorkshire portfolio with £4.65m purchase of Fall Bank Industrial Estate

Fall Bank Industrial Estate in Dodworth comprises eight warehouses totalling 97,761sqft and is located two miles west of Junction 37 of the M1 motorway.

Solomon Halpern, Investment Analyst at Glenbrook, commented: “We are pleased to widen the scope of our portfolio with the acquisition of this industrial asset in Yorkshire.

"Fall Bank Industrial Estate provides a solid return and presents an opportunity to add value through refurbishment and improved site configuration.

"We look forward to delivering a more efficient and well improved multi-let industrial estate as we seek to maximise its income potential.”

Metis Real Estate and CMS acted for Glenbrook. The site was purchased off-market from a private vendor.

Glenbrook Investments has increased its presence in Yorkshire over the last year.

Earlier this month, the company purchased 5-6 Commercial Street, occupied by Watches of Switzerland, in the heart of Leeds city centre from Legal & General, in an off-market deal for £1.74m.

The property, which is let to Watches of Switzerland and trades under its Goldsmiths brand, is let on a lease expiring in 2030.

Speaking about this acquisition, Scott Griffiths, Investment Director at Glenbrook, commented: “This is our second investment in Leeds city centre following the £6.7m purchase and £1m refurbishment of Albion Court, now renamed as St Albion’s.

"It underscores the belief we have in Leeds’ post pandemic recovery and longer-term growth potential.

"In particular, we like Commercial Street because of its concentration of jewellers and high-end watch brands; retailers that traditionally like to trade alongside one another and are less impacted by online shopping. Mr Griffiths added: "Recent letting activity on the pitch means that there is no availability, and we like these situations, as they generally provide superior income durability and opportunities for growth.”

Neighbouring occupiers to Goldsmiths include Chisholm Hunter, Austen Blake, Beaverbrooks and Boodles.