• Brachers’ Corporate and Commercial Property teams have advised on two back-to-back high value transactions for Turkish owned international distribution and logistics operation, IKRA.

    IKRA was formed in 1992 and is currently based in six countries, with 16 offices and 1,000 employees. The company handles around 35,000 shipments per year in road, sea and airfreight services.

    The initial transaction involved the multi-million pound sale and leaseback of IKRA’s UK headquarters in Belvedere, South East London.

    Brachers simultaneously advised IKRA on the purchase of a significant new property site outside of Ashford, Kent, which will be developed into the new UK headquarters central distribution hub for the business.

    Senior Associate Katherine Morgan advised on all commercial property aspects of the transaction, with Corporate Partner Claire Williams, assisted by solicitor Kieron Cummins, advising on the corporate elements of the deal. This included IKRA’s purchase of shares in the company that owns their new Ashford site.

    The transactions were adeptly facilitated by Richard Seton-Clements, director at CBRE. Eversheds Sutherland acted for the buyer of IKRA’s Belvedere property, with Hill Dickinson representing the sellers of the Ashford site company. All parties worked closely and to challenging timescales, to ensure both transactions were successfully aligned.

    Claire Williams commented: “It was a pleasure to work with our new client, IKRA, on this exciting new deal. We’re delighted that they have chosen a site in Kent to be their new UK central distribution hub and a gateway into Europe, and wish them every success with this new venture.”

    Richard Seton-Clements added: “Having worked with IKRA for many years, and knowing the potential challenges of a tied sale, the Brachers team, especially Katherine, Claire and Kieron, rose to the challenges, resolved the issues and communicated perfectly throughout to both the buying and selling team and has ensured IKRA’s continued business growth.”

    IKRA’s UK Managing Director Amir Aliyev said: “Thank you to Claire, Katherine and the team for guiding us through both these transactions. This is an exciting time for us at IKRA, and we anticipate that the expansion of our business to our new headquarters in Ashford will enable us to provide an even better service to our customers both in the UK and across our international offering.”

    This content is correct at time of publication

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