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Tritax Big Box REIT acquires Unilever distribution centre

17 May 2017 07:35

Tritax Big Box REIT has acquired a national distribution centre at Trax Park, Doncaster, £20.9 million (excluding purchaser's costs), reflecting a net initial yield of 5.61% on the asset acquisition.

It said the centre was currently and would continue to be operated by Unilever.

It said the purchase was being funded from equity proceeds. The company added: "Located in Trax Park, the property is strategically situated in a core UK distribution location with excellent motorway, rail and port connections.

"It is close to the M18, A1(M) and M1 and benefits from good access to the ports of Hull and Grimsby.

"The property is adjacent to Doncaster Rail Freight Terminal. The site is a well-established Regional and National Distribution Centre location with a number of major occupiers located close by including Amazon, Wincanton, XPO Logistics, B&Q, and Tesco in addition to the Company's facilities let to Next and The Range."

It added: "The property has been acquired with a new 15-year lease in place, subject to five yearly upward only rent reviews indexed to the Retail Price Index with a collar and cap in place."

Story provided by StockMarketWire.com

Related Company: BBOX

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