Freehold Office Investment Opportunity




  • Modern office investment totalling 9,250 sq ft (859.35 sq m) (NIA) over ground and 1st floors
  • Located on Wakefield 41 Industrial Estate, a prime distribution/business park adjacent to Junction 41 of the M1 Motorway and M1/M62 intersection
  • Let to Neopost Limited and UPS SCS (UK) Limited with an AWULT of 3.25 years to lease expiries
  • Allocated parking for 35 cars providing an attractive car parking ratio of 1:264 sq ft
  • Freehold
  • Outstanding rent review within the Neopost lease providing imminent reversion
  • Currently producing a total rent of £66,070 per annum reflecting a low £7.10 per sq ft



Strategically located at the intersection of the M1 and M62 motorways, Wakefield provides excellent access to the national motorway network and connects with the major conurbations of Leeds, Sheffield and Manchester.

The ports of Humberside and Liverpool are easily accessible. Wakefield is located some 10 miles (16 km) south of Leeds, 25 miles (40 km) north of Sheffield and 38 miles (61 km) east of Manchester.

The City also benefits from good rail links, being situated on the East Coast Mainline and benefitting from a fastest journey time to London (Kings Cross) of 1 hour 56 mins. Leeds Bradford Airport is located approximately 17 miles (27 km) to the north west, with Robin Hood (Doncaster) and Manchester Airports within accessible distances.



The subject property is situated on Wakefield 41 Industrial Park, Yorkshire’s premier distribution centre and is located on the A650 Wakefield road, less than 1 mile (1.6 km) from Junction 41 of the M1 Motorway and approximately 2.5 miles (4 km) south of the M1/M62 interchange.

Wakefield city centre lies approximately 2 miles (3 km) south west. Wakefield 41 extends to approximately 230 acres and is one of the region’s dominant distribution hubs. It is an established industrial distribution and office location that has seen substantial regeneration and development. With its excellent proximity to the national motorway network, it houses a number of significant occupiers including Coca- Cola, Card Factory and Morrisons.

Zenith House is situated on Brunel Road within 160 yards (150 m) of the main entrance to Wakefield 41 accessed via the primary estate road, Kenmore Road. The immediate neighbouring area is primarily occupied by office users with large scale distribution units located in the northern element of the park



The property comprises a modern detached office building over ground and first floors. Split on a floor-by-floor basis into two office suites, the building provides a total net internal area of 9,250 sq ft (859.35 sq m). The property benefits from 35 parking spaces (including 2 marked disabled spaces) providing a ratio of 1:264 sq ft as well as the following internal features;

• Suspended ceilings

• High quality LG7 Lighting

• VRV heating and cooling air system

• Eight person, 630 kg passenger lift

• Double glazing

• Male, female and disabled WC facilities

• Fitted kitchenette on each floor




The property is let in accordance with the tenancy schedule detailed below and provides a weighted average unexpired lease term of 3.25 years to lease expiries and 1.33 years to breaks.




The Property is held Freehold.




NeoPost Limited

Established in 1991, Neopost is a global supplier of business communication solutions that optimise sending and receiving hard mail, parcels and emails. Brunel House is their Northern Region sales office with additional regional offices in London, Reigate, Birmingham, Bristol and Livingston.

Neopost Limited has a D&B rating of 4A1 which represents a “minimum” risk of business failure. Summary accounts for the last 3 years are set out below;





UPS SCS (UK) Limited

UPS Supply Chain Solutions is a part of the UPS network which was founded in 1907 as a messenger company in the United States. UPS has since grown into a multi-billion-dollar company with one of the most recognized brands in the world.

They have become the world’s largest package delivery company and a leading global provider of specialized transportation and logistics services in more than 200 countries and territories worldwide.

UPS (SCS) Limited has a D&B rating of 4A1 which represents a “minimum” risk of business failure. Summary accounts for the last 3 years are set out below;








The property occupies a strategic location at the entrance to the busy Wakefield 41 Industrial Estate providing easy access to the Estate as well as the national motorway network. The Estate mainly supplies large scale industrial units with supply of quality office accommodation limited.

The current occupiers have demonstrated their commitment to the building following recent lease regears/renewals.

Zenith House has a number of further asset management initiatives which could be explored including the following;

•  Conclude negotiations on the NeoPost rent review at a rent closer to the current ERV of £7.75 per sq ft.

•  Consider re-leting the building to a single occupier at the conclusion of each of the leases.

•  Given the lack of available car parking on the Estate, letting individual spaces to neighbouring occupiers could be a consideration.

•  Larger scale redevelopment/massing of the site and potentially neighbouring buildings (subject to necessary consents).






Available upon request.


The property has been elected for VAT, therefore VAT will be payable on the purchase price. It is anticipated the transaction will be treated as a Transfer of a Going Concern (TOGC).


Offers are invited in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 8.25%, a Reversionary Yield of 9.15% and a low capital value of £81 per sq ft taking into consideration standard purchaser’s costs of 5.40%



Buchanan Bond Real Estate Ltd, for themselves and for the vendors of this property whose agents they are, give notice that:
i) The particulars are set out as a general outline only for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract.
ii) All descriptions, dimensions, references to condition and necessary permission for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
iii) No person in the employment of Buchanan Bond Real Estate Ltd has any authority to make or give any representation or warranty in relation to this property.