Warrington firm Dinex Exhausts secures £2.2m sale and leaseback agreement

Dinex Exhausts Ltd, the Cheshire-based exhaust and emission system manufacturer, has sold its warehousing and distribution hub in Warrington for £2.2m.

The Manchester office of real estate advisory firm Colliers International completed the sale on behalf of Dinex Exhausts to BLME (Bank of London and the Middle East Plc) Light Industrial Fund.

The single-story industrial unit, located at 14 Chesford Grange, comprises 40,810 sq ft of space and has now been let back to Dinex Exhausts for just under £184k per annum on a 10-year lease.

Chris Ward, the surveyor at Colliers who completed the sale and leaseback deal, said: “This strategic acquisition by the BLME Light Industrial Fund reflects increasing investor interest in such high yielding opportunities throughout the North West of England as demand for good-to-go industrial and logistics properties buoyed by an improving economy continues to outstrip availability.

“While we forecast an increase in speculative development in the sector in 2016, we feel it may not be sufficient to meet the demands of investors and indeed occupiers and therefore anticipate continued high levels of interest in industrial and logistics properties coming on to the market.”

Dinex Exhausts Ltd is a subsidiary of Dinex Group, a manufacturer and distributor headquartered in Denmark.

Paul Valentine, Dinex Exhausts’ UK sales manager, commented: “From our perspective, as the occupier of 14 Chesford Grange, this sale and leaseback transaction with BLME Light Industrial Fund enables Dinex to continue servicing its extensive customer base with exhaust and emission technologies from this prime UK location.”