Manchester-based family trust David Samuel Property Holdings has completed the £2.75m sale and leaseback of the 75,000 sq ft Calypso Soft Drinks building at Wrexham, north Wales.
Calypso has taken a 10-year lease at £225,000 pa or £3 per sq ft from the new owner.
Calypso had originally leased one of the two buildings of 25,000 sq ft involved in the deal from the Welsh Development Agency.
When the adjacent 50,000 sq ft building became available to purchase from the WDA, it surrendered its lease on the first building and acquired both from the development agency.
The deal affects a 2-acre (0.8 ha) site within the Wrexham Industrial Estate. Calypso has retained a further 2 acres (0.8 ha) for future expansion space.
Richard Potter, head of agency at Edwin Hill, adviser to Calypso, said, “The sale and leaseback deal with David Samuel gave Calypso an ideal opportunity to raise the finances for future expansion while enabling it to continue to occupy its purpose-built premises and retain a strong presence in the Wrexham area.
References: EGi News 23/11/05
