Thomas Cook (TC) is considering a £24m sale and leaseback of its 16-acre (6.5ha) business park in Bretton, Peterborough.
According to a source close to the travel agent, it has sent details of the Thomas Cook.
Business Park out to a handful of potential buyers to “test the water”.
A decision from the TC board as to whether to go ahead with the deal is expected shortly.
The deal, which would reflect a net initial yield of over 7%, will include a 15-year leaseback to TC, worth over £1.8m pa.
This will rise to £2.1m pa after a five-year rent review and nearly £2.5m after 10 years.
Located two miles to the east of Peterborough city centre, the park was originally constructed as a 300,000 sq ft (27,870 sq m), 36-unit industrial estate, but TC has converted most units into offices and call centres.
Dunlop Heywood Lorenz, which is advising TC, was unavailable for comment.
References: EGi News 03/03/03
