SWIP Property Trust has paid £45.4m for BT’s national distribution centre on Magna Park, Lutterworth, Leicestershire. The shed, being sold by administrators at DTZ, was formerly owned by a company within the Tchenguiz Discretionary Trust. Covering 432,000 sq ft, it had gone under offer to UBS’s Triton Property Fund before the investor pulled out. The deal reflects a 5.1% yield, with the shed let to BT until 2031. chris.berkin@estatesgazette.com
SWIP Property Trust has paid £45.4m for BT’s national distribution centre on Magna Park, Lutterworth, Leicestershire. The shed, being sold by administrators at DTZ, was formerly owned by a company within the Tchenguiz Discretionary Trust. Covering 432,000 sq ft, it had gone under offer to UBS’s Triton Property Fund before the investor pulled out. The deal reflects a 5.1% yield, with the shed let to BT until 2031. chris.berkin@estatesgazette.com
