Member Article

Sheffield property agency CPP advises on two deals worth £45 million

Sheffield property agency Commercial Property Partners (CPP) has advised on two major property deals in South Yorkshire, worth a combined £45 million.

CPP acted on behalf of Westmount Real Estate and Credit Suisse to acquire the 492,000 sq ft manufacturing and distribution base of the Symphony Group plc in Park Spring Road, Barnsley.

This followed hard on the heels of CPP advising Wirral Borough Council on the sale of the UK headquarters of Maplin Electronics Ltd near Rotherham.

The buyer of Maplin’s UK headquarters was Oxenwood Catalina Limited, an equity joint venture between Oxenwood Real Estate Capital LP and Catalina Holdings, a Bermuda-based reinsurance investment company.

Toby Vernon, co-founder and partner of CPP, commented: “These two transactions are a massive endorsement of the South Yorkshire region as an attractive location for major UK and global investors.

“These are two of the most significant investment deals in Yorkshire this year.

“The strength of the logistics and industrial distribution sector in South Yorkshire, driven by a skilled and competitive labour force and an excellent motorway network, is proving highly attractive with investors and we expect this trend to continue into 2015.

Roger Haworth, investment partner at CPP added: “On a more personal note, we are delighted that CPP, which was only founded 15 months ago, has played a pivotal role in two such prestigious deals.

“We vowed to hit the ground running when we launched our agency business in September last year and we have done exactly that,” he added.

The 198,422 sq ft property is located near Rotherham and is leased to Maplin for a further 18 years. The passing rent is £1,006,000 per annum, which reflects a net initial yield of 6.3 per cent. CBRE represented Oxenwood Catalina Limited.

This was posted in Bdaily's Members' News section by Clare Burnett .