Savills, on behalf of the owner, has sold three units in Carterton, Oxfordshire on a sale and leaseback basis to a local authority for circa £2.4 million.
Online retailer The Garden Trading Company will remain in occupation at the 2.3 acre (0.9 hectares) site, which comprises just under 50,000 sq ft (4,645 sq m) of warehouse, showroom and office space. The new lease will generate an annual rental income of £280,000.
Jan Losch, associate director in the commercial agency team at Savills Oxford, comments: “The sale of all three units provided the purchaser with a rare chance to acquire a strong income producing industrial asset within Oxfordshire. There remains significant demand for warehouse investment opportunities, especially with future development potential, and for this reason we were able to secure an excellent deal on behalf of our client.”
The local authority was advised by Carter Jonas.
