Glenbrook Investments has completed the acquisition of two sites in Sandbach in a sale and lease back with Metal Fabricators Ltd, achieving a Net Initial Yield of 11%.
This deal is the latest in a series of transactions for Glenbrook Investments with the £2.83million acquisition of Eastgate Retail Park in Accrington and the £895,000 disposal of No. 1 Dock Road in Birkenhead, all completed in the last month with further deals in the pipeline.
The sites on Hall Lane and Moston Road total 4.1 acres and comprise 79,000 sq ft of warehouse and manufacturing accommodation supplying small, medium and large engineered components to a number of industries globally, including construction, power generation, rail, nuclear and recycling.
Speaking about the deal, Scott Griffiths, investment director at Glenbrook, commented: “This acquisition has many attractive features including a low rent, unbroken 15-year term and rental growth linked to the Retail Price Index (RPI) collared at 2% per annum compounded. We were also impressed by the strength of the management team and the innovative nature of the business, which has been safely operating 24/7 during lockdown servicing new clients with a full order book. We would welcome conversations with other companies seeking to release capital from operationally critical assets.”
OBI represented Glenbrook whilst LSH acted on behalf of the vendor.
The sites were acquired for an undisclosed sum.
🗞️ Last week our Senior Development Manager Daniel Roberts attended the @benetworking West Yorkshire Development Conference.
This year's conference focused on creating a resilient housing proposition across West Yorkshire, and Daniel spoke of our BtR plans for the region.
The 2022 @Homeviews_com BTR report is out and we're thrilled to see that our schemes, @DuetSQuays and @mcr_vox, have come first and second in the UK's top 10 best BTR developments, rated for design.
🔗 Download the report here: https://lnkd.in/eUmTjB4C #BTRNews #BTR
Over £1m is being spent upgrading one of Leeds city centre’s most revered properties.
The stunning 31,400 sq ft Albion Court, on the corner of Albion Place and Lands Lane, was purchased by Glenbrook Investments in September last year.
🔗 Read more: https://buff.ly/39nqMjN
Thank you! 🤞
https://www.insidermedia.com/news/north-west/shortlist-revealed-and-voting-open-for-liverpool-city-region-property-dinner best wishes all tonight @insiderproperty #liverpool awards - and @Glenbrookprop nominated for deal of year at Valley Bus Park, Birkenhead
The UK BTR sector recorded a total of £650m of investment in the first quarter of 2022, according to figures from @CBRE.
Our Residential Director, Shannon Conway, joined the @insidernwest Built-to-Rent roundtable. Read what Shannon had to say here: https://bit.ly/3NAae6G
It’s been a pleasure to host the @wipnorthwest student awards @hellostok - our newly completed workspace scheme in #Stockport. We hope you enjoyed the evening!
Well done to all students who were nominated, a fantastic achievement and honour
A huge thank you to our annual student award sponsors @jmwsolicitors, @TGLPEARSON & to our hosts @Glenbrookprop - your support is very much appreciated.
🗞 We’re delighted to announce the official practical completion of @hellostok, 62,000 sq ft of workspace within Stockport’s former M&S building.
🔗 Read more via @PlaceNorthWest https://bit.ly/3Qlfi0u
🗞️ ICYMI: Back in April we submitted a new detailed planning application to Leeds City Council for a 618 apartment build to rent scheme on the banks of the River Aire.
🔗 Read more here: https://bit.ly/3xjwyMO
🗞️ ICYMI: We submitted a detailed planning application to
@leedscc_news as part of a joint venture with @tcs_plc for the £280m full masterplan for the development of Whitehall Riverside in Leeds City Centre.
🔗 Read more about the proposals: https://bit.ly/3yfFlQ9
We're proud to sponsor and support the 2022 Mini Rally Challenge!
📸 IG: Jack Morris
We’re excited to be hosting the @wipnorthwest NW Student Awards @hellostok in June.👇🏼👩🎓
Our NW Student Awards is getting closer which would not be possible without the continued support of our annual Student Award sponsors @jmwsolicitors (@TGLPEARSON) & our hosts @Glenbrookprop 👩🎓
We will be sharing videos of our finalists in the coming weeks, grab your tickets now
Earlier this week, our Residential Director @ShannonConway99 and Development Manager Dan Symonds attended @UKREiiF
It was great to hear from senior figures at Local Authorities, speaking with passion about a range of very exciting investment and regeneration opportunities.