Wragge & Co LLP Real Estate Group has advised PSA Peugeot Citroën on the sale of its 140-acre Ryton site. Trenport Investments Limited and other associated companies forming part of the Ellerman Investments Limited group, owned by Telegraph newspaper proprietors Sir David and Sir Frederick Barclay, acquired the site for an undisclosed amount.

The deal follows a competitive process conducted by chartered surveyors Gerald Eve which saw 11 potential buyers submit bids, with short-listed bidders also presenting their proposals to Rugby Borough Council planners. The buyers' proposals include warehouse and distribution facilities along with industrial and office space.

Real estate associate Catherine Hood led the Wragge & Co team, which included commercial development and investment partner Peter Thorne, solicitor Eleanor Rattay and real estate tax partner Lee Nuttall. The team worked alongside Roger Lewis, Peugeot's Legal Director and Company Secretary, and Group Property Manager Neil Parsons. Finers Stephens Innocent partner Martin Smith acted for the buyers.

Neil Parsons said: "We've worked with the Wragge & Co team many times before, including on the redevelopment of our Stoke Aldermoor site, and knew that the team's first class real estate expertise and experience combined with their positive and commercial approach would help ensure that this deal went through as smoothly and quickly as possible."

Catherine Hood said: "Our full-service real estate team worked quickly and efficiently with Peugeot's internal and external advisors to help ensure swift completion of this deal; just four months after the last car rolled off the production line and a year after the initial closure announcement. Regeneration of the site and the creation of employment opportunities for the local community can now begin sooner rather than later."

Peugeot is one of the world's best known car manufacturers, producing cars, motorcycles and commercial vehicles for customers across the globe. It is a longstanding Wragge & Co client, having instructed the firm on a full range of matters since the 1980s. Previous instructions include advising on the sale for redevelopment of Peugeot's 83-acre Stoke Aldermoor site in Coventry.

Wragge & Co's Real Estate Group is one of the largest full service real estate teams in the UK. It advises major private and public organisations on matters ranging from asset management to environment; planning to tax; and litigation to regeneration. Clients include Argent Estates, Arsenal Football Club, Development Securities, Hines, Marks & Spencer and ProLogis Developments.

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This press release may contain information of general interest about current legal issues, but does not give legal advice.