Glenbrook Investments has completed the acquisition of North and South Buildings on Haydock Industrial Estate from Coral Products, in a deal worth £1.7million.
Located on North Florida Road, the units comprise a total of 20,100 sq ft industrial accommodation. As part of the deal, the two units were leased back to Film & Foil Solutions on unbroken 15-year FRI leases at £155,000 per annum with RPI rent reviews.
Haydock Industrial Estate is an established industrial location with a strategic location on the A580, near the M6 and M62. Its excellent connectivity has proven to be popular with major occupiers including Amazon, Booker, Costco, Kellogg’s and Sainsbury’s. It is also a location that Glenbrook knows well, having previously completed a transaction with Coral Products following the successful acquisition of its headquarters building on North Florida Road in Haydock in a sale and leaseback transaction in 2021. That building was subsequently sold to Schroders REIT.
Speaking about the acquisition, Scott Griffiths, Investment Director at Glenbrook, commented: “It is great to transact again with Coral Products.
“The rarity of securing small industrial units in this location, coupled with it being the perfect base to support the tenant’s growth ambitions, led to the agreement of a long-term, index linked lease commitment and parent guarantee.”
OBI advised Coral Products.
Lucy Murphy and Matt Barnes at CMS represented Glenbrook Investments.
