Sale and leaseback on Gloucester warehouse
ProCook, a supplier of Dining & Kitchenware, has agreed a 20-year sale and leaseback on its Gloucester headquarters.
Leftfield has acquired the 43,629 sq ft warehouse facility into its Leftfield Logistics portfolio for £5.15 million, reflecting a net initial yield of 5.47%.
Cushman & Wakefield’s Capital Markets team acted on behalf of ProCook.
The logistics building was completed in 2015 and is part of St Modwen’s, Gateway 12 Business Park. It has access onto the A38 and junction 12 of the M5 motorway and nearby occupiers include Parcelforce, DPD and Amazon.
ProCook has invested heavily in fitting out the property including, a high quality office fit out, subsidised staff canteen, a fitted gym with shower facilities and a prototype shop fit out and photography studio.
