Catering butcher company MJ Birtwistle & Co, advised by BC Real Estate, has completed the sale and leaseback of its 33,700 sq ft warehouse in Northbank Industrial Estate in Irlam to AEW for £2.5m.
The sale price represents an initial yield of 7%. MJ Birtwistle has agreed a 20-year lease on the property, which is situated on Ferrous Way.
John Barton, director at BC Real Estate, said: “Our client’s business has proven to be very successful over the years and by agreeing this sale and leaseback deal, it will enable them to reinvest in their business and continue to grow.”
BC Real Estate also advised M7 on its acquisition of Mount Street Business Park in Oldham. The 45,000 sq ft multi-let estate is situated on 2.3 acres and was sold by JLL on behalf of IPIF for undisclosed sum.