Sandyford completes pair of sale and leasebacks
The multi-let industrial investor as acquired units in Runcorn and Stoke-on-Trent for a combined £4.7m.
In Runcorn, Sandyford Properties has bought a 28,500 sq ft unit on Brindley Road in Astmoor Industrial Estate from Coral Products.
The unit is let to Coral subsidiary Alma Products, a thermoforming and container printing company. The occupier has signed a news 15-year lease.
The acquisition expands Sandyford’s portfolio at Astmoor, following its acquisition of 12 units at the estate, totalling 67,149 sq ft, in December 2023.
In Stoke, Sandyford has acquired 37,000 sq ft at Festival Trade Park from TCS John Huxley, a manufacturer and supplier of live gambling products and solutions.
This unit has also been leased back to the occupier, with TCS signing a 10-year deal.
The £4.7m deal for the combined 66,000 sq ft of space reflects a net initial yield of 7.2%.
Paul Brindley, managing director of Sandyford Properties, commented: “These transactions reflect our strategy to acquire robust, purpose-built industrial assets to grow our multi-let industrial portfolio.
“Both Festival Trade Park and Astmoor Industrial Estate are sites where we already have an established presence, and these acquisitions improve our holdings in these key markets”.
Sandyford was advised by The Acquisition Group and PK3 Agency, with legal advice from Hill Dickinson and Davitt Jones Bould.
