Second phase of Latitude distribution park launches

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Wilton Developments is preparing to launch the second phase of the Latitude industrial site in Wakefield.

Last year, the firm sold the 135,000 sq ft Latitude 135 distribution unit to Mayfair Capital for £9.29m, following CBRE’s letting of the unit to logistics business Malcolm Group.

Latitude 2 is a four-acre site with outline consent for industrial and distribution uses.

Wilton Developments has now instructed CBRE, Carter Towler and Colliers to market the site.

Latitude Park is home to large UK and global brands, with TK Maxx, Asda, DHL, Haribo and Argos occupying units.

Located by junction 31 of the M62, Latitude 2 “presents an opportunity for occupiers looking for well-connected high quality space in the M62 corridor where demand is presently outstripping supply”, CBRE said.

Mike Baugh, senior director of industrial agency at CBRE Leeds, said: “The letting to Malcolm Group in November to secure a 10 year lease at Latitude 135 was pivotal in Wilton Developments securing a sale and it is the next logical move to launch Latitude 2 to market.

“Our research has previously highlighted that the M62 corridor is one of the main areas where there is a real shortage of quality industrial stock and occupiers are looking at prime sites such as this where they can create built-to-suit accommodation.”

Jason Stowe, managing director of Wilton Developments, said that Latitude 135 “demonstrated the whole park’s profile”. He added: “We are positive that the time is right to launch this next phase.”