Shoosmiths has advised Total Developments on the £25 million sale of a 16-acre industrial and warehouse park near Leeds.
The transaction means Total Developments will sell its remaining interest including four units at the site to ReAssure. The units are let to a range of occupiers.
Total Developments acquired and began developing the site in 2018, building a total of six industrial and warehouse units to the east of Leeds city centre in Aire Valley.
“Shoosmiths has worked with Total Developments from the start of this project. It is a partnership spanning over four years, culminating in the company now successfully selling its remaining interest in Total Park, which is a grade A scheme and already home to major tenants including DHL,” said Daniel Monaghan, Real Estate Partner at Shoosmiths.
“With over 1m ft2 under construction across five schemes and a further five schemes in planning, we continue to strategically acquire sites across the UK to further build the Total Developments brand. With our continued focus on creating best in class space, all our sites are committed to meet the ever-growing ESG agenda,” added Edward Chantler, CEO of Total developments.