Sterling Capitol planning new investment after completing biggest deal of the year to date

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SIR BOB Murray’s Sterling Capitol is planning a programme of new investment activity after completing the biggest deal of the year to date in Yorkshire.

The property developer and investor sold the Tesco distribution centre in Goole to Tritax’s Tritax’s real estate investment trust for £47.1m.

Mike Heydecke, on behalf of the company, said: “This is a very important deal for us, as it allow us to concentrate on future developments at all of our motorway business parks at Leeds, Barnsley and Goole. We have some extremely exciting plans agreed, which will create much-needed business space and jobs in both West and South Yorkshire.”

He added: “As a company, we are extremely proud of what we have achieved in Yorkshire. Job creation is at the heart of our plans and we have developed the most impressive business parks in Yorkshire, with an excellent mix of tenants and facilities. Premier business locations like our Capitol Parks remain popular in a testing economic climate.”

The 700,000 sq ft Tesco development was built for the retailer in 2007 and is near to the Port of Goole’s rail freight terminal. The supermarket giant has a lease which runs until 2032.

Henrie Westlake, head of investment at Knight Frank in Leeds, which brokered the deal, said: “This is the largest and most significant investment deal in Yorkshire so far this year. It graphically illustrates that the region continues to be popular with investors and underlines that well-located assets, with proven occupiers on long-leases, will always prove attractive.”

Sir Bob is the chairman of kitchen manufacturer and supplier Omega and formerly founder and chairman of stock market darling Spring Ram. His wealth has been estimated at £70m.