150-year-old manufacturing business expands into new Wakefield site
A business operating for more than a century has expanded operations with the acquisition of a new industrial unit in Wakefield.
Edward Clay & Son has purchased units 1-4 Sandbeds Court at Sandbeds Trading Estate in Ossett.
The local manufacturing firm, which has just completed its 150th year of trading, has acquired the four-bay warehouse with ground-floor loading doors and office accommodation on the upper levels - totalling 33,626 sq ft of industrial space.
Established in 1870, Edward Clay & Son Ltd manufactures felt and fibre pads and rolls for a range of industries.
The acquisition was secured by Lambert Smith Hampton on behalf of the firm, with Avison Young acting on behalf of the vendor.
Richard Corby, director at Lambert Smith Hampton, commented: “Demand from owner occupier manufacturers remains strong and as an asset class, industrial property is out-performing other sectors, so long-established family-owned businesses like Edward Clay & Son are happy to invest for the long term in properties such as this.”
Commenting on the sale, Jake Pygall, associate director at Avison Young, said: “We are continuing to see demand in the mid-box market, especially for freehold properties, which are well-sought after, as businesses continue to adapt to the changes driven by shifting consumer habits.
“Freehold industrial properties remain in short supply, which in turn is seeing a sharp increase in capital values achieved. This property attracted a large amount of interest from occupiers and investors alike and was put under offer quickly after a short marketing period.”
Edward Clay, from Edward Clay & Son, added: “Thanks to Jake and Richard, and having just completed our 150th year of trading, it is great to acquire this extra space near our world headquarters that allows us to push forward and continue on our mission.”
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