A family-owned property company has added to its portfolio with the acquisition of a former Wincanton distribution site in West Yorkshire, and is anticipating that 2015 will be the best year in its history.
In-site Property Solutions — which concentrates on assets in the north of England and the central belt of Scotland — bought the 29,500 sq ft industrial and distribution facility at Wood Lane in Rothwell with refurbishment plans already in place.
Work on re-cladding and upgrading the property, which includes several roller-shuttered bays and a 6,000 sq ft canopy and loading area, is expected to be finished by early March. Potential occupiers will be offered the site as a single base or as 10,000 or 20,000sq ft units.
Founded 35 years ago in Scotland, In-Site relocated to Bramham, West Yorkshire, in 2007. Since then it has “continued to acquire sites to develop and add value to throughout Yorkshire and the north of England,” explained Tim Cross, head of commercial property at Langleys Solicitors which acts for the firm on all its English deals.
“It is a family business with decades of experience in industrial property management and has the ability to act quickly and move with a good proposition,” he added.
The Wood Lane purchase follows In-Site’s recent acquisition and refurbishment of the Prince George Trading Estate in Pontefract. The West Yorkshire property has now been converted from a “big shed” warehouse to a multi-occupancy trading estate with units ranging from 1,000 to 30,000 sq ft.
And a series of improvements has also been completed at a site in Pottery Lane, Chesterfield, where In-Site has established a multi-let trading estate containing industrial, showroom and small workshop space.
Describing it’s secret for success as “taking recycling to a new level”, the property owner and asset manager has specialised in purchasing sites direct from the original equipment manufacturer, as with its Washington, Tyne and Wear, which closed as an LG Phillips television factory in 2004.
“We provided a quick solution to LG Philips’ surplus property problems and following a £1m refurbishment programme, the site is now home to nine thriving businesses employing more than 40 people in a secure, landscaped environment,” said In-Site managing director, Alex Boyle.
“In-site remains on the acquisition trail and following some imminent capital receipts will look to reinvest funds.
“This coming year is set to be In-site’s best ever year and what is exciting is that we have built a stable platform to enable future growth,” Boyle added. “We have also recently made some improvements to the asset management team, meaning we are well resourced to tackle further acquisitions.”
