Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Cookware supplier agrees sale and leaseback of HQ

Cookware supplier agrees sale and leaseback of HQ

Wed, 30 Sep 2020 | COMMERCIAL PROPERTY



Dining and kitchenware supplier ProCook has agreed a £5.15 million sale and leaseback of its Gloucester headquarters to commercial property firm Leftfield. The lease for the 43,629 sq ft building is for 20 years.

The warehouse becomes part of Leftfield’s logistics portfolio, with the purchase price reflecting a net initial yield of 5.47 per cent.

The building, completed in 2015, is located on St Mowden’s Gateway 12 Business Park, with access to the A38 and the M5’s Junction 12. ProCook has invested significantly in the property, which features a subsidised staff canteen, gym, prototype shop and photography studio.

Leftfield Advisors Chief Executive Nico Fourie said: “Leftfield continues to grow its Logistics portfolio around well located warehouses with tenants that successfully navigate the online-to-offline space.”

Nick Allan, International Partner at Cushman & Wakefield, who acted on behalf of Leftfield, said: “We are delighted to have advised ProCook on the disposal and the outcome reflects the appetite for both well-located logistic assets and exciting growth businesses operating in the e-commerce environment.”

ProCook was the first company in the UK to sell cookware via direct mail. Over the course of more than 20 years it has grown into a multi-channel kitchenware supplier with 50 stores across the UK.

This year, the company has trialled a ProCook High Street model in several locations. However, one such store in Chester closed in April as sales were not high enough to sustain the model. This was reported as being unrelated to the impact of COVID-19.

In its most recent report, to the year ended March 31 2019, ProCook reported group turnover of £27.8 million, up from £21 million in 2018. Gross profit was £18.7 million, up from £13.7 million the year prior, with total income of £1.1 million.

At the time, the company’s fixed assets were valued at £7.1 million, with current assets of £7.2 million and net assets standing at £3.8 million.


One of the best ways to find properties below market price is to look at recent administrations.


Share this article



Latest Businesses for Sale

Football Equipment Retailer
North West, UK

E-commerce retailer of football equipment to schools football clubs & the general public. Key products include specialist training equipment footballs goals & other coaching materials.

Asking Price: Offers Invited
Turnover: £2,350,000

Manufacturer of Hot Beverages
North East, UK

Rapidly growing hot beverage brand utilising novel infusion process technology. Products are infused & packaged in-house then sold to an established retail base including UK supermarkets over 30 export markets & direct to customer online sales.

Asking Price: Offers Invited
Turnover: £7,881,000

Regional Kitchen Retailer With Outstanding Showrooms
West Midlands, UK

Founded in the 1990s, this substantial business is a significant premium regional kitchen retailer, located in the West Midlands. In addition to two outstanding showrooms, the business also has a significant contracts division.

Asking Price: £800,000
Turnover: £2,600,000


View more businesses for sale

News Search

Latest News

 
28
 
Jan
 

Building products manufacturer makes £3.8m acquisition | BUSINESS SALE

Building products manufacturer Epwin Group Plc has announced...

 
27
 
Jan
 

Paperchase set to be rescued in pre-pack acquisition | BUSINESS SALE

High-street stationer Paperchase is set to be acquired by Pe...

 
26
 
Jan
 

Perspective Financial Group continues acquisitive growth | BUSINESS SALE

Chorley-based financial planning and wealth management speci...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
21
 
Jan
 

ProCook considering sale as it undertakes strategic review | BUSINESS NEWS

Kitchenware retailer ProCook is to undertake a strategic rev...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.