News Archive

Remploy investment sold for £3.56 million

Stoke-on-Trent Regeneration Ltd, the joint venture between St Modwen Properties PLC and Stoke City Council, has sold Remploy’s new production centre which it developed on its 400-acre Trentham Lakes site, Stoke-on-Trent to BC Asset Management.

The 6,114 sq m (65,812 sq ft) building, let to Remploy Ltd on a 20-year lease at an initial rent of £272.500 per annum, was sold for £3.56 million, representing an initial yield of 7.65%.

AlastaIr Smith of St Modwen said: “This is a significant investment sale which confirms that Stoke-on-Trent is becoming increasingly accepted by investors as well as occupiers as a good place in which to do business.”

Stoke-on-Trent Regeneration Ltd was represented by Colliers CRE of London, and Fineman Ross of London acted for BC Asset Management.

For further information contact Alastair Smith of St Modwen on 01782-281844.

Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).