Barnsley unit changes hands after lease renewal

A South Yorkshire industrial site has changed ownership following a lease renewal.

Midlands-based developer Rotherhill has sold its Barnsley investment on Spring Hill Road to London-based property investment company Glenstone REIT. 

The move follows a new ten-year lease agreement with long-term tenant Ambipar Response, who has occupied the unit since 2015. 

Spanning over 16,500sq ft, the property features high-spec industrial space including two access doors, a large service yard, dedicated parking area and an EPC rating of B, which will safeguard it from upcoming regulatory changes.

Ed Jeffrey, director at Rotherhill, said: “The recent lease renewal with Ambipar created a long-term, secure, investment. 

“Smaller industrial unit investments let to high quality tenants on long leases are scarce, and we were confident that this opportunity would present well.

“We are pleased to have sold the unit ahead of formal marketing to Glenstone who were excellent to work with throughout.

“Our thanks go to Ross Cuthbert, of Skylark RE, and Dan Walker, of GV & Co, who advised us on the sale, and to Andy Price, of AP Investment, who represented Glenstone.”

Ross Cuthbert, co-founder and director of Skylark Real Estate, added: “This is a fantastic deal to have been involved in from start to finish and a great result for the team. 

“The proposed project plan was delivered through the renewal of the lease to create a well-let, secure investment opportunity. 

“The property was sold prior to formal marketing and a special thanks to Glenstone and Andy Price of AP Investments for running a seamless transaction.”

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