ICG buys Boots’ distribution warehouse

ICG Real Estate has acquired Boots’ 473,232 sq ft distribution warehouse in Burton-on-Trent. The warehouse was part of a sale and leaseback transaction, and has been let back to Boots on a long-term lease. The site is a major principal fulfilment and distribution facility for the pharmacist’s online business. Chad Brown, managing director at ICG Real Estate, said: “Rental growth forecasts in the sector continue to be strong, with the investment structured to benefit from forecast market rental growth, with a base of RPI underpinning performance. “We continue to seek further opportunities across the UK and Europe, with a focus on mission-critical real estate.” ICG was advised by Gerald Eve and Ashurst. To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @EGPropertyNews Image © Geoffrey Swaine/Shutterstock