LONDON-Securicor Cash Services has agreed an £11.5 million sale and leaseback with Rotch Property Group on three of its Superbranches. The cash warehouse and office properties total 132,087 sf and are located at major motorway junctions in Manchester, Basingstoke and Glasgow..

In order to retain capital allowances Securicor has granted Rotch a long leasehold interest in the buildings, and in return has taken three separate 25-year sub-leases at a combined rent of £850,000 ($1.33 million) per annum. The purchase reflects a net initial yield of 6.99%.

Securicor was advised by Mason Philips. Partner Findlay MacAlpine said: “This is another example of a blue chip occupier maximising the strength of its own covenant and releasing capital from its property portfolio.”

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