Legat Owen has announced a sale-and-leaseback deal in Warrington worth over £2m.
We completed the transaction for Grange Packing Solutions on a 43,000 sq ft warehouse at Kingsland Grange Industrial Estate.
The unit, which occupies 2.15 acres, was sold to Cara Developments.
Grange now occupies the space on a new seven-year lease.
Steve Lloyd, CEO of Grange, said:
This deal was a strategic opportunity for our company as it meant we could release capital, allowing us to fund investment in new packing lines and move forward with our growth ambitions.
We’re delighted to be staying at Kingsland Grange, which has been our home for more than ten years.
We fully appreciate the advantages of being based on the site and are committed to investing in our future here.
Legat Owen director Matt Pochin commented:
Sale-and- leaseback opportunities like this are few and far between, so we had strong interest from the start.
Cara could see the huge potential which came with Kingsland Grange and we are confident that the investment will perform strongly for them.
Property investment firm Christopher Dee represented Cara in the deal.
Kingsland Grange, one of the main employment areas in Warrington, is home to a mix of manufacturing and warehouse operators.