A private property investor has completed the sale and leaseback of a 40,000 sq ft modern industrial/warehouse unit adjacent to Hearthcote Road, Swadlincote, in Derbyshire, at a sale price in excess of £3m.
The price reflects a net initial yield of approximately 7.7% after costs. The property, which sits on a 2.04 acre site, includes a warehouse, offices, boardroom and showroom.
Ben Nicholson, senior associate director at Burley Browne, who acted for the buyer in the off-market deal, said: “We are thrilled to have been able to secure the sale and leaseback of these well-presented premises on behalf of our client. Following receipt of instructions, we commenced off-market negotiations with parties during a difficult and uncertain economic period in the last quarter of 2022.
“Despite the uncertainty, this sale clearly demonstrates that the market remains buoyant and that industrial warehouse investment opportunities still command confidence, generating competing bids from potential buyers. We are delighted that we were able to secure completion of the sale in a well-managed time frame to avoid any disruption to our client’s business operation.”
