Real Estate team advise on flooring distributor’s £54m sale of property

When longstanding client Headlam Group plc looked to sell a portfolio of their properties, they contacted HCR Law’s Real Estate team for advice and guidance throughout the process. The subsequent work resulted in the sale of the properties – to the value of £54m – – which was over their book value.

The sale involved cross-firm support from HCR Law, with members of the Construction and Engineering team providing expertise throughout the deal. The deal also involved leasebacks of the properties.

Several properties in Ipswich, Gildersome and Leeds were sold in one sale for £50.9m as part of a strategy to optimise operations, enhance customer service and improve efficiency.

Philip Parkinson, HCR Law’s Head of Real Estate, said: “This is one of the most significant deals we’ve acted on recently; I’m extremely pleased that the sales went through in the tight timescales required on this deal.”

“By consolidating their existing properties, Headlam have not only taken a profit but have also been able to streamline and maximise their operations as part of their wider transformational plans.”