Cyril Leonard advised ALSTOM on the sale and leaseback of a £100m portfolio to KEY Property Investments, a joint venture between St Modwen Properties and Sahia Real Estate. The sale and leaseback comprised 19 properties providing approximately 8,000,000 sq ft on 500 acres of land. The sites were in Rugby, Lincoln, Stafford, Birmingham, Milton Keynes, Eastleigh, Manchester, Preston, and Glasgow. The leaseback structure provided operational efficiency and flexibility for ALSTOM with leases varying between 5 and 15 years in length. The partnership structure also brings forward land for development when sites become surplus to operational requirements