Stamco has sold a 28,500ft2 industrial premises it owned to a private pension scheme for an undisclosed sum.
Located north of the Eastbourne town centre, the premises formed part of the wider Stamco portfolio, which had been acquired by private equity group Cairngorm Capital in June this year.
This deal will see the building leased back to Sussex Turnery & Moulding Company Limited (Stamco) from the buyer on a 20-year lease.
Toby Yates, Senior Surveyor at Vail Williams, who facilitated the transaction, said: “We are delighted to have supported Cairngorm with this sale and leaseback transaction. The nature of the transaction has allowed our client to release equity to enable further investment in their continued growth strategy, creating the largest independent builders’ merchant group in the South East.’’
Alex Bayliss, Managing Director at Cairngorm Capital, added: “As investors we are actively engaged in the strategy and operational development of our portfolio companies. We’re grateful to Toby and the team at Vail Williams for the invaluable property advice they have given throughout the process, and continue to provide us with, as we seek out opportunities to develop our portfolio across our core industries.”
Over the last 12 months, Vail Williams has advised Cairngorm Capital on investments which have included over 35 leasehold and freehold properties as the private equity firm continues to invest in manufacturing, distribution and services businesses.
The firm continues to advise on Cairngorm’s wider national property portfolio, providing lease regear advice and business rates expertise, with associated work in respect of additional portfolio acquisitions and disposals also ongoing.