Sale and 15-year leaseback deal, worth £3.4m, completes on industrial building

Independent contractor, Edwards Property Consultants, has agreed the sale and leaseback of a 70,865 sq ft industrial building in Barnsley for £3.4m, 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 five 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 Manchester-based Edwards, said: “Completing this strategic sale leaseback deal marks a pivotal chapter for our client, Truswell Haulage.

“By unlocking significant capital, the company can now prioritise ongoing investment into the business to secure its long term future and further grow its operations.”

He added: “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.