EDWARDS AGREES SALE AND LEASEBACK OF 70,865 SQ FT INDUSTRIAL BUILDING IN BARNSLEY

Independent Manchester based property consultancy, Edwards Property Consultants has agreed a sale and leaseback of a 70,865 sq ft industrial building in Barnsley for £3.4 million, reflecting a net initial yield of 9.25%.

The building, which sits on a 10.15 acre site on Fall Bank Industrial Estate in Dodworth, was sold with a 15 year leaseback, incorporing 5 yearly tenant breaks, to long established haulier, Truswell Haulage. A private investor acquired the asset as part of its long term investment portfolio.

Oliver Rowe, Director at Edwards, comments: "Completing this strategic sale leaseback deal marks a a pivoltal chapter for our client, Truswell Haulage. By unlocking signifcant capital, the company can now prioritse ongoing investment into the business to secure its long term future and further grow it's operations. We are advising a number of business owners looking to reduce traditional debt, or invest funds into the growth of their businesses. With a backdrop of higher interest rates and strong underlying industrial values, releasing capital through sale and leaseback is proving to be a good alternative for business owners."

Christopher Dee acted for the purchasers.