Corby warehouse sold in Sale-and-Leaseback deal

Corby warehouse sold in Sale-and-Leaseback deal

Eddisons' Peterborough agency team has completed the sale of 5 Macadam Road, comprising a 96,000 sq ft industrial / warehouse unit in Corby.

Offers were invited for the freehold investment in the region of £7.25m.

The building has been purchased on a sale and leaseback from the owner occupier, by a business investor seeking to diversify their income.

The vendor, a leading furniture wholesaler, has signed a new 10-year lease at £540,000 per annum.

Located on Earlstrees Industrial Estate, an established employment district in the heart of Corby, the premises comprises a high bay warehouse, two showrooms, recently refurbished office accommodation and loading areas.

Eddisons Agent Simon Parsons commented: “This warehouse unit offered an excellent opportunity for potential investors looking to invest into both a strong commercial property market and a well-established business.

Eddisons provided investment advice and whilst the market was slowing, secured good interest, which resulted in the sale of the property.”

Eddisons acted on behalf of the owner occupier.