Client: Accident Exchange
Our client Accident Exchange plc is a national provider of motor claims management solutions. As a business it is growing organically and its senior management could foresee it would require high quality space in order to support its future growth.
Our agency team advised on the options available and identified an exciting opportunity to pursue the acquisition, and back-to-back sale and leaseback transaction of a new logistics hub and storage centre on the Hams Hall National Distribution Park at Coleshill, West Midlands.
We advised Accident Exchange on the acquisition of the freehold from the developer Catalyst and subsequently agreed a sale and leaseback to Warner Estates for £17.6m, yielding an exceptional profit before tax of approximately £2.6m. The premises will serve as the new administrative headquarters and principal fleet distribution centre, providing room for anticipated growth. The building, known as Alpha 1, comprises approximately 218,000 sq ft of office and warehouse accommodation. Accident Exchange occupy the premises on commercial terms contained within a 15-year lease, with a 10 year tenant option to break at £5.25 psf.
The timing of the transactions enabled Accident Exchange to round off its financial year with a rewarding deal, new headquarters premises and the infrastructure and capability to sustain growth into the future.
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