Online retailer The Garden Trading Company has secured £2.4 million on a sale and leaseback basis to a local authority.
The retailer will retain occupation of the circa 50,000ft2 facility made up in three units on a 2.3acre site in Carterton in Oxfordshire and will pay an annual rent of £280,000.
Jan Losch, associate director in the commercial agency team at Savills Oxford, said: “The sale of all three units provided the purchaser with a rare chance to acquire a strong income producing industrial asset within Oxfordshire. There remains significant demand for warehouse investment opportunities, especially with future development potential, and for this reason we were able to secure an excellent deal on behalf of our client.”
Savills advised The Garden Trading Company while Carter Jonas acted for the local authority.