26 May 2020
Griffen completes 1.65m sq ft industrial Golden Triangle sale-and-leaseback with Neovia
Our Due Diligence team were pleased to have advised Neovia on this sale and leaseback.
Delta-Simons were requested by Jones Lang LaSalle (JLL) on behalf of Neovia Logistics to complete environmental due diligence support for the sale and leaseback of the 1.65m sq ft Neovia Logistics Desford campus in Leicester. Delta-Simons completed an environmental assessment of the site in order to assess the potential for contaminated land liabilities in light of the proposed deal.
The facility comprises three modern warehouse buildings and is strategically located in the heart of the East Midlands golden triangle. In addition to the 82-acre operational campus, Griffen UK has also acquired an adjoining 46-acre site with immediate development potential from Neovia. The deal, one of the largest sale-and-leaseback’s agreed since the start of the Coronavirus pandemic, saw real estate investor Griffen UK acquire the golden triangle property close to junction 21 of the M1 and junction 3 of the M69.
Delta-Simons provided ongoing advice to Neovia throughout the transaction.
"Great to see the deal over the line in the current market, and a top effort by the Delta-Simons Environmental Consultants due diligence team!" Graham Duffield, Delta Simons.