David Samuel Properties has acquired a 154,200 sq ft research and production facility at Denby Hall Business Park, Denby, Derbyshire, for £12m.
The property was acquired from Deb Group Ltd, the manufacturer of specialist skin care products such as Swarfega, and the inventor of pump dispensers. The company will retain its bespoke premises, built in 2009, as its global headquarters, taking a 30-year lease at an annual rent of £940,000.
The deal reflects a net initial yield of 7.4 per cent.
CBRE and GVA advised the Manchester-based purchaser on the acquisition.
Nick Woodward, associate director in the capital markets team at the Birmingham office of CBRE, said: “The property was designed to satisfy the long-term operational requirements of Deb. The lease terms reflect their ongoing commitment to the location and provide my client with a secure, long term income stream with in-built rental performance”.
Jones Lang LaSalle advised Deb Group on the sale and leaseback. The proceeds of the sale will be re-invested in the business.
