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Wednesday, 24 August 2005 |
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Universal Salvage has announced that its wholly owned subsidiary, Userve, has leased its former auction site in Corby to Greatline Developments for £256,000 per year.
The ten year deal includes an option for Greatline to buy the site if Universal decides to sell. The former salvage auction branch has been mothballed since 2002 when it was deemed to be surplus to requirements. The gross value of the property according to Userve's accounts id £2.6m. Universal said the proceeds of any sale would be used to reduce bank borrowings.
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