Corby furniture warehouse sold in £7.25 million sale-and-lease deal

A Corby 96,000 sq ft warehouse unit has been sold and leased back to the existing occupier – a leading furniture wholesaler.

Property agents Eddisons’ completed the sale of 5 Macadam Road on Earlstrees industrial estate with offers invited for the freehold investment in the region of £7.25 million.

A business investor seeking to diversify their income bought the building on a sale and leaseback from the owner occupier.

The vendor, Kettle Interiors, a leading furniture wholesaler, has signed a new 10-year lease at £540,000 per annum.

Eddisons agent Simon Parsons said: “This warehouse unit offered an excellent opportunity for potential investors looking to invest into both a strong commercial property market and a well-established business.

“Corby has been one of the strongest markets in the UK for the last 48 months but it’s slowed down now. It’s a strong market.

"Corby has done well with the labour market and roads.”