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Fri May 07 2021

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SIG strikes Carlisle factory sale and lease back deal

2 Jun 17 Building materials giant SIG has sold its Steadmans roofing materials factory in Welton, Carlisle but is staying put and leasing it back.

The factory in Welton
The factory in Welton

Real estate investment trust LXi REIT has paid SIG £9.3m to take over ownership of the property and has agreed a 25-year lease.

The Steadmans factory is a substantial manufacturing facility of 248,333 sq ft, on a 15 acre site, used for the manufacture of profiled metal roofing and other cladding elements.  The property includes a new high specification 89,000 sq ft cladding production facility, constructed in March 2016, along with a range of other factory units as well as storage and office facilities that have been built over the past 20 years.

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