Rolls-Royce sale and leaseback

LaSalle Investment Management has announced the sale and leaseback of the Rolls-Royce Training & Development Centre in Derby to a private buyer.  The property was sold for £12.1m, representing a net yield of 5.07%. The purpose-built training and development centre has been let to Rolls-Royce, including offices, workshop/warehouse accommodation and an exhibition area. The car manufacturer will have to pay five-yearly fixed rental increases. LaSalle Investment Management was advised by Singer Vielle, while Allsop LLP acted on behalf of the un-named, private purchaser.