Leopard Capital has completed the off-market sale of the Booker Cash & Carry warehouse, Salfords Industrial Estate, Redhill for c. €7.7m to Hines. Leopard acquired the asset in 2019 for c. €6m. The asset totals c. 3,883m2 GIA and is let for a further 2.4 years to earliest expiry.
Alex Fordyce, Managing Director of Leopard Capital, said: “We were delighted with this disposal, the property has been an excellent performer for Leopard after regearing the lease shortly after acquisition. We achieved our business plan objectives and will be looking to recycle the funds into opportunistic and value add assets.”
Will Gubb, Head of Industrial Capital Markets at Knight Frank, said: “Having advised Leopard Capital on the acquisition of the asset in 2019 it was great to complete this off-market sale enabling our client to crystallise strong returns for their investors. We continue to see good demand for smaller lot size assets with reversionary rental profiles in the short to medium term, let to strong covenants.”
Knight Frank advised Leopard Capital on the disposal, ACRE Capital represented Hines on the acquisition.
Image provided by Knight Frank.
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