Haulage firm secures sale and leaseback
Haulier Truswell Haulage has secured a sale and leaseback of its base in Barnsley, South Yorkshire releasing capital to reinvest in the firm.
By Liza Helps Property Editor Logistics Matters
THE COMPANY disposed of the 70,865 ft2 property in a sale and leaseback agreement for £3.4 million, reflecting a net initial yield of 9.25%. The building, which sits on a 10.15 acre site on Fall Bank Industrial Estate in Dodworth, was sold with a 15-year leaseback.
A private investor acquired the asset as part of its long-term investment portfolio.
Edwards Property Consultancy director Oliver Rowe, said: “Completing this strategic sale leaseback deal marks a pivotal chapter for our client, Truswell Haulage. By unlocking significant capital, the company can now prioritise ongoing investment into the business to secure its long term future and further grow its operations.
“With a backdrop of higher interest rates and strong underlying industrial values, releasing capital through sale and leaseback is proving to be a good alternative for business owners.”
Christopher Dee acted for the purchaser.
