Stobart signs multi-million pound deal for 47-acre Liverpool site

Infrastructure and support services firm Stobart has entered an Agreement for Lease and an Option to Purchase Agreement for 47 acres of investment property in Speke, Liverpool.

The deal, signed with the site’s current tenant, Ford Motor Company, also offers North West-based Stobart a long-leasehold element on a further six acres for future development.

Commencing on July 1 2016, the 20-year agreement will see Stobart paying an initial yearly rent of £2.16m, with an option to buy the site agreed at £37m.

The property was originally purchased for £15.6m.

Stobart CEO Andrew Tinkler said: “We are delighted to have agreed terms with our tenant at Speke.

“This transaction creates significant value for our shareholders and reinforces Stobart’s strategy of actively managing our assets and maximising the value of our property investments.”

Earlier this month, Stobart set out its growth targets for the current financial year.

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