A prime Derbyshire distribution hub has been sold to Clipstone Logistics REIT – in its first acquisition since listing on the Channel Islands Stock Exchange in December.
Knight Frank has sold XL240 at Tetron Point in Swadlincote on behalf of former owner-occupier SERT-MST for £16.9m, reflecting a yield of 6.65%.
The high specification cross-docked 240,000 sq ft distribution hub was recently let to Clipper Logistics on a 10-year lease at £1.2m pa, reflecting £4.95 per sq ft.
BNP Paribas acted for Clipstone Logistics REIT. Knight Frank and Freeths advised vendor SERT-MST.
