Alliance expands industrial portfolio with £2.5m sale-and-leaseback

Property Alliance Group has agreed to buy office furniture distributor Woodstock Leabank’s 41,500 sq ft unit in Bredbury, Stockport, for £2.5m.

The warehouse is being let back to Woodstock on a 10-year lease, at £5.50/sq ft.

Frank Taylor from Property Alliance Group said: “Located in Corrie Way on the Bredbury Park Industrial Estate, this property is on a well-established, prominent site.

“Being able to purchase the building and agree a 10-year lease with the previous owner, presented an ideal investment opportunity, which adds to our growing industrial portfolio in the North West.

“We have had previous success in Bredbury, so look forward to continuing to expand in the area and announcing further acquisitions in the region over the next 12 months.”