Agent gets in the fast lane with £1m deal
NG Chartered Surveyors has brokered the £1 million sale and leaseback deal of a 9,500 sq ft industrial property at Loughborough’s Belton Road Industrial Area.
The Nottingham-based property specialists acted on behalf of S&A Auto Services, who will take a 10-year lease of Unit 7, Messenger Close.
The buyers, private investors REIG, are clients of MK2.
NG’s managing director Richard Sutton brokered the deal.
He said: “NG have acted for S&A Auto Services for over 20 years and this is the latest of a number of transactions we have completed for the company, which have included purchases, lettings, lease renewals and rent reviews – all of which highlight the versatility of the NG offer.
“The deal will free up equity to help S&A continue to grow and I look forward to working with them in the future, helping the company to continue to thrive.”
Harpreet Banwait, managing director of REIG, added: “REIG was set up to develop a significant portfolio of high quality, safe, income protected returns. All acquisitions are to be made from existing cash resources. One of REIG’s greatest strengths is its ability to move quickly by recognising value and closing the deal – a result of its ready access to capital. We will be working very closely with MK2 on future opportunities.”
REIG was represented by Mark Rooke.
