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Gloucestershire Business News

£25m-plus Stobart deal made possible by Gloucestershire experts

Expertise from a county firm has made one of the UK's FTSE companies a cool £25.5 million better off.

Sale and lease back might be easy to say, but the nature of such deals means a lawyer with specialist knowledge needs to be on hand - and that is what led Stobart Group to Gloucestershire.

The British infrastructure and support services company, which has interests in energy, aviation and rail (not to be confused with Eddie Stobart, the logistics national treasure), recruited the services of BPE Solicitors.

Cheltenham-based BPE's commercial property team made the sale and lease-back agreement possible on an industrial facility and office headquarters in Widnes, Cheshire.

Rebecca Maxwell, partner with BPE Solicitors, completed the agreement for the Guernsey-headquartered business, which has 1,000 staff, and said: "We are delighted to continue our long-term relationship with Stobart Group.

"This sale and lease is a great example of the high-calibre work carried out by our 25-strong commercial team at BPE."

The 40-acre site in Widnes includes 23,000 square feet of new offices that will serve as the headquarters for Stobart Group's energy division, a 180,000 square foot warehouse used to store and process biomass timber waste and a further 20 acres with plans for development.

Stobart Group is a FTSE 250 listed company and is one of the UK's leading infrastructure and support service businesses in the energy, aviation and rail sectors.

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