CBRE Completes £3.3m Doncaster Investment Sale
Leeds, October 2009 – Acting on behalf of Threadneedle Property Investments Limited, the capital markets team at CB Richard Ellis in Leeds has sold the investment of the 80,000sq ft Portola Packaging facility in Doncaster to a local investor for £3.3M, reflecting a net initial yield of 10%. Gavin Black & Partners in Newcastle advised the purchaser.
Portola Packaging Ltd is the European Division of Portola Packaging Inc; one of the largest global manufacturers of tamper-evident plastic closures, plastic containers, related equipment and engineering services for the dairy, juice and food industries. The facility on Carriage Drive in Doncaster is the worldwide group’s largest site and manufactures over 4 billion closures every year. The company’s operations will continue as normal under the facility’s new investment ownership.
Robin Bullas, Associate Director for capital markets at CB Richard Ellis in Leeds, said; “This sale presented a good investment opportunity for the local investor. We are witnessing renewed confidence in the investment market throughout the region and this latest deal highlights the opportunities that are currently available within the marketplace.”