Le Masurier acquire Greencore Food to Go Limited UK HQ building

August 2015

Greencore Food to Go

C Le Masurier Limited have recently acquired another freehold modern distribution warehouse, extending to 107,990 sq ft, on the Manton Wood Business Park north east of Sheffield which is also home to B&Qs UK distribution warehouse. The tenant, Greencore Food To-Go Ltd, is the largest sandwich maker in the UK producing over 350 million sandwiches / wraps each year and the tenant has recently undertaken significant fitting out works, costing over £3.5m, to complete their UK HQ.

Le Masurier paid £5.7 million, equating to an initial yield of 6.25%, with the vendor Emerald SV Ltd, a Jersey based asset management company, advised by JLL and AHBN advising Le Masurier.

Ben Ludlam, Group Property Director, for Le Masurier was particularly pleased to close out this deal, after three rounds of competitive bidding in a very active market as it provided the company with another long term investment to fulfil the UK investment strategy and also he confirmed that “Le Masurier are looking to acquire further similar investments in both the UK and Germany before the turn of the year.”