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Neovia has agrees sale-and-leaseback of 1.65 million warehouse campus

Last month third party logistics provider Neovia has agreed the sale-and-leaseback of its 1.65 million warehouse campus in the Golden Triangle.

Today, cash is king. And if you want cash quickly, sale-and-leaseback of your warehouse premises could be the answer.

The deal, one of the largest sale-and-leaseback’s agreed since the start of the Coronavirus pandemic, saw real estate investor Griffen UK, backed by Jersey-based Griffen Capital, acquire the golden triangle property close to junction 21 of the M1 and junction 3 of the M69.

In addition to the 82-acre operational campus, Griffen UK has also acquired an adjoining 46-acre site with immediate development potential from Neovia. For Neovia it meant cutting out the hassle of being a landowner.

For Griffen it gives them control of one of the largest, best-located logistics sites in the UK. Neovia are not alone in seeing sale-and-leaseback as a smart way to raise capital, shed worries and make progress during a difficult time.

Next, the ubiquitous high street and online fashion retailer, sold three UK warehouses to Aviva Investors for £107 million.

They also sold their head office in Leicestershire for £48 million. Next followed recent (pre-pandemic) examples including B&M Bargains, who completed a £154 million sale and leaseback of their 1 million sq ft Bedford distribution centre to German investor Deka Immobilien.

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