Investment sale and leaseback – Completed
PPH Commercial have just completed the a simultaneous investment sale and leaseback upon substantial industrial premises on Dawes Lane, Scunthorpe occupied by Russell Ductile Castings Ltd. The complex provided over 83,829 sqft, being situated on a site of 7.37 acres approx. The property has been acquired by Prospect Estates, the asking price was £1.25m and the lease was for a new 10 year term at £125,000 pax which equates to a Net Internal Yield of 9.44%.
Duncan Willey Divisional Director PPH Commercial negotiated the transaction and advises that there was very good levels of interest received and due to strong competition we had to conclude the transaction by way of ‘Best & Final Offers’.