NORTHERN TRUST MAKES STRATEGIC PORTFOLIO ACQUISITION IN YORKSHIRE
14th September 2021
Northern Trust is pleased to announce that they have completed the acquisition of a multi-let 312,355 sq ft portfolio in Yorkshire comprising 267,655 sq ft of industrial and 44,700 sq ft of offices. Many of the assets have been recently constructed, with 45,000 sq ft due to complete in October. The portfolio includes 7 assets with 71 individual units located throughout Doncaster and Barnsley, and will add c £2.1m pa to the Northern Trust portfolio.
Tom Parkinson, Director at Northern Trust commented “It is not often a portfolio of this quality is brought to the market and we are delighted to expand our offering to the growing SME Yorkshire market. We have been expanding our industrial portfolio through new acquisitions and developments with an on-going strategy to acquire and develop quality multi-let industrial assets to support the SME business community. Currently our portfolio supports over 20,000 jobs across the UK.”
This latest acquisition follows on from Northern Trust’s recent announcement of the purchase of a 31,000 sq ft estate in the Midlands, two estates in Scotland adding 40,000 sq ft, and a 146,000 sq ft portfolio in 10 assets across the North East. Northern Trust’s portfolio in Yorkshire now extends to circa 1.2m sq ft in more than 40 separate locations and over 500 individual units / office suites. The portfolio is actively managed by Northern Trust’s in house managing agents, Whittle Jones. For further details on the Yorkshire portfolio and the available space, please contact the Whittle Jones Wakefield office on 01924 282020 or via email at firstname.lastname@example.org
JLL and Shakespeare Martineau acted for Northern Trust on the acquisition. James Gooch, Partner at Shakespeare Martineau, added “We were delighted to assist Northern Trust in such a large-scale strategic acquisition. In a strong industrial market it’s important that we move quickly with businesses looking to expand their portfolio with new investments. This is the second acquisition we have assisted Northern Trust with this year and we look forward to continuing to help the business with its future growth.”
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