Sale & leaseback calculator

Figures are indicative and assume fixed rate, linear indexation and full payment throughout the term. The actual transaction price depends on the tenant's credit rating, WAULT, lease flexibility (break options, extension options) and the property's residual risk (alternative use, re-letting risk).

Depends on asset class and location. Prime logistics with strong tenant and 15+ year WAULT sit at 4.75–5.75 %. Office and manufacturing 5.50–6.75 %. Senior housing and grocery 5.75–7.00 %. Specialty properties with short WAULT or single-tenant risk can price at 7–9 %. We price case by case.

Relevant if: (1) the property is non-core but operationally critical, (2) the capital can generate higher returns in core operations than the property yield, (3) you accept a long-term rent obligation in exchange for balance-sheet improvement. NOT relevant if you plan to relocate or materially change usage within 5–10 years.

With sale & leaseback the property is transferred — you realise 100 % of market value but lose ownership. With refinancing you keep the property but typically only leverage 60–70 % LTV. Sale & leaseback maximises capital; refinancing preserves ownership.

Under IFRS 16, the lease obligation is recognised as a right-of-use asset and a lease liability on the balance sheet — full off-balance treatment is no longer possible. Equity typically improves through the capital inflow, and key ratios such as ROIC can rise materially. We recommend early alignment with your auditor and CFO.

10–16 weeks from briefing to closing. Typically 2–3 weeks of preparation and investor briefing, 4–6 weeks of bidding and negotiation, and 4–6 weeks of due diligence, documentation and closing.