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MG Rover in £42.5m sale-and-lease-back of 228 acres of Longbridge

MG Rover has followed its recent sale of 18 acres of Longbridge land to Advantage West Midlands with the sale of 228 acres, including 4.24m sq ft of buildings, to St. Modwen Properties. The sale netted £42.5 million. MG Rover will lease the land and buildings back from St. Modwen for 35 years, for a first-year annual rent of £3.6m.

Following its earlier disposals of 60 acres, MG Rover now owns 186 acres of land at Longbridge outright, mostly occupied by its Powertrain engine division.

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