SEGRO and Clipstone have completed an off-market industrial swap worth a combined £24.8m.
SEGRO has bought a 190,000 sq ft distribution warehouse on the Brackmills Estate in Northampton for £13.6m, while Clipstone has taken two multi-let industrial estates for £11.2m, with SEGRO paying the balance.
The Northampton shed is leased to Tesco until December 2018, sub-let to sports retailer Decathlon, which is fitting out the facility as their sole UK logistics hub.
The two multi-let industrial estates which Clipstone has acquired are in Bracknell and Slough. Bilton Industrial Estate in Bracknell totals 69,000 sq ft across 23 units and the Whitby Road Business Centre in Slough comprises 19 units totalling 38,000 sq ft.
SEGRO chief investment officer Phil Redding said: “This off-market transaction enables SEGRO to make further progress with its portfolio reshaping programme. This disposal is in line with our strategy to dispose of those assets which no longer form part of our core portfolio, and to re-invest to build up our presence in core products and markets, including in larger distribution warehouses in key transportation hubs and corridors.”
DTRE advised SEGRO and Clipstone on the transaction.
chris.berkin@estatesgazette.com
