Wakefield 41 opportunity opens up as Jenkar seeks deal
The freight business has instructed Avison Young to find a buyer for its 37,000 sq ft base, with offers of around £3.9m wanted in a sale & leaseback arrangement.
Jenkar Shipping wants to generate significant working capital while allowing the company to maintain its current premises and continue operations seamlessly.
Andrew Phillips, managing director, said: “This sale-leaseback strategy is a testament to our commitment to re-channel our assets in the most beneficial way for our core business.
“It provides us with the financial flexibility to invest more heavily in our shipping endeavours without relocating or disrupting our operational flow.”
Rob Oliver, principal at Avison Young, said: “This is a relatively rare opportunity to acquire a high-quality freehold unit on Wakefield 41, one of Yorkshire’s key industrial estates.
“The mid-box facility is well-designed and of a popular size amongst occupiers. The occupier has been in occupation of the property since buying it in 2010, and it is being sold with the benefit of a new 10-year lease to them.’
The 37,118 sq ft shed is on Wakefield 41, which is close to Junction 41 of the M1, just a junction down from the M1/M62 intersection.
While the ownership of the building will change hands, Jenkar Shipping’s operational presence will remain intact. The leaseback ensures that the company can continue to operate from its familiar premises while redirecting funds that would otherwise remain tied up in real estate.
“We see this as a win-win. Our team stays where they are, and our business gets a capital boost to support our ambitious growth plans in the shipping domain,” added Phillips.