A major development and investment firm has completed a sale and leaseback investment at a prominent industrial estate in Cheshire in a move that further expands its footprint in the Northwest.
Pitalia Real Estate Ltd has bought the freehold of a 71,225 sq ft warehouse on the Winsford Industrial Estate for £3.58 million.
The warehouse will be leased back over ten years to an undisclosed tenant at a rent of £305,000 p.a, with a tenant break after five years.
Fisher German, which advised the vendor as to the cost-effective nature of raising capital through a sale and leaseback process, was the selling agent.
Rupert Collis, Partner at Fisher German, said: “The site at Winsford Industrial Estate has been a key production facility for our client in recent years, which has shown consistent profitability and this transaction allows further investment into the business to facilitate continued growth.
“Fisher German through proactive marketing was able to generate a lot of interest from investors, delivering a sale at a competitive price and with favourable leaseback terms, in what has proved to be a reasonably volatile market.”
Greg Ball, Investment and Development Director of Pitalia Real Estate, added: “We are delighted with this purchase because we have secured another industrial sector investment which grows our portfolio in this key strategic location to over 250,000 sq ft.”
Matt Pochin at Legat Owen represented Pitalia Real Estate.
