Headlam raises £3.15 million through Bristol property sale and leaseback

Headlam ($HEAD) confirmed completion of the sale and leaseback of its Bristol distribution-center property for £3.15 million, excluding VAT. The price was 50% above its £2.1 million book value and 13.7% above the latest external market valuation. The group has received the cash and intends to use net proceeds to repay debt after transaction costs and specified leaseback expenses.

The distribution center and its trade counter remain operational under a short leaseback extending to the end of 2026. The disposal is part of Headlam’s strategic review and restructuring, rather than an exit from the Bristol operation. Any disposal gain will be treated as a non-underlying, one-off item. Headlam also noted that its shares remain suspended; the property transaction does not itself restore trading.

Sources:

• Headlam — completed Bristol sale and leaseback, RNS