Commercial property specialists NG Chartered Surveyors have brokered the £1m sale and leaseback deal of a 9,500 sq ft industrial property in Loughborough.
NG acted on behalf of S&A Auto Services who will take a 10-year lease of the unit, which is located at Unit 7, Messenger Close. The private investor buyers, REIG, were clients of MK2 represented by Mark Rooke.
Richard Sutton, Managing Director at NG who brokered the deal, said: “NG have acted for S&A Auto Services for over 20 years and this is the latest of a number of transactions we have completed for the company, which have included purchases, lettings, lease renewals and rent reviews – all of which highlight the versatility of the NG offer.
“The deal will free up equity to help S&A continue to grow and I look forward to working with them in the future, helping the company to continue to thrive.”
Harpreet Banwait, MD of REIG said “REIG was set up to develop a significant portfolio of high quality, safe, income protected returns. All acquisitions are to be made from existing cash resources. One of REIG’s greatest strengths is its ability to move quickly by recognising value and closing the deal – a result of its ready access to capital. We will be working very closely with MK2 on future opportunities.”