Industrial property investor Stenprop increases scale of its investments in Huddersfield

A major industrial property business has increased the scale of its investments in Huddersfield as it seeks to cash in on growing demand for commercial space.

Huddersfield is becoming a popular place for property investment

Stenprop,has acquired, in two separate transactions, Whitacre Industrial Park in Huddersfield and a portfolio of five estates located across the UK, for a total consideration of £15.9 million.

Stenprop said it had also purchased two estates called Acorn Industrial Estate in Hull; Corringham Road Industrial Estate in Gainsborough; Motherwell Food Park in Bellshill; and Caldwellside Industrial Estate in Lanark.

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"In a second off market transaction, Stenprop has acquired the 24,730 sq ft Whitacre Industrial Park for £2.3 million. The property adjoins Stenprop's existing estate in Huddersfield, Ellis Hill Industrial Estate, which was acquired in December 2018."

Will Lutton, Head of Investment at Stenprop, commented: "We are confident that adding these assets, in undersupplied regional locations, will enable us to significantly grow the rents over time through the application of our smart lease solution and management platform."

Stenprop was represented by CBRE on the acquisition of the Duke Portfolio and Ereira Mendoza on Whitacre Industrial Park.

Stenprop is listed on the London Stock Exchange. It invests in a diversified portfolio of UK multi-let industrial properties with the strategic goal of becoming the leading business in the UK in its sector.

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