Leeds-based Gent Visick brokers £120m property deal for Sports Direct

A LEEDS-based property agent has brokered a £120m deal for a retail heavyweight.

Gent Visick negotiated the UKs biggest industrial sale and leaseback transaction in terms of footprint size, after advising Sports Direct on the sale of its headquarters and distribution centre at Shirebrook.

The property consultancy Gent Visick has successfully negotiated the UK’s biggest ever industrial sale and leaseback transaction, after advising retail giant Sports Direct on the sale of its 1.8m sq ft headquarters and distribution centre at Shirebrook in Derbyshire.

The 75-acre site was acquired in an off-market deal by an international pension fund, which was advised by CBRE Global Investors, represented by DTRE and Clifford Chance. Gent Visick, CBRE and Dentons all acted for Sports Direct.

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Around 4,000 people work at the site, which covers six buildings. Shirebrook is home to the firm’s national distribution centre, as well as Grade A head office space, brand partner offices and two retail stores. It also has more than 1,300 car parking spaces. Sports Direct, which is the UK’s largest sporting goods retailer, has now leased the site for a term of 15 years.

The sale is Britain’s largest industrial sale and leaseback transaction in terms of footprint size and the fifth largest by value.

Rupert Visick, managing director at Gent Visick, who negotiated the deal with the purchaser, said: “This is an impressive site that has been developed in phases, to an exceptional standard and specification, over the last 14 years with work completing in 2018. We approached a number of potential buyers and were able to generate strong interest.”