Property developer and asset manager, Rotherhill, has sold an industrial investment at Spring Hill Road, Barnsley.
Having recently secured a new, unbroken, 10-year lease agreement with Ambipar Response Limited, who have occupied the unit since 2015, the sale sees ownership of the investment transfer to Glenstone REIT Plc.
The unit, which extends to 16,558 sq ft, includes a 7.1 metre eaves height, two level access doors, a service yard with a depth of 30 meters and a separate parking area. The unit also benefits from an EPC rating of B which futureproofs the building against upcoming changes to the minimum energy efficiency regulations.
Ed Jeffrey, director at Rotherhill, said: “The recent lease renewal with Ambipar created a long-term, secure, investment. Smaller industrial unit investments let to high quality tenants on long leases are scarce and we were confident that this opportunity would present well.
“We are pleased to have sold the unit ahead of formal marketing to Glenstone who were excellent to work with throughout.
“Our thanks go to Ross Cuthbert of Skylark RE and Dan Walker of GV & Co who advised us on the sale, and to Andy Price of AP Investment who represented Glenstone.”
Ross Cuthbert, co-founder and director of Skylark Real Estate, said: “This is a fantastic deal to have been involved in from start to finish and a great result for the team.
“The proposed project plan was delivered through the renewal of the lease to create a well-let, secure investment opportunity. The property was sold prior to formal marketing and a special thanks to Glenstone and Andy Price of AP Investments for running a seamless transaction.”
Dan Walker, director of GV & Co, said: “We were pleased to have advised Rotherhill on this transaction with our agency, lease advisory and investment teams coming together, jointly with Skylark RE, to achieve a great result for our client. We wish Glenstone all the best on taking this asset forward.”
