Tritax Big Box REIT has acquired a Unilever distribution centre at Trax Park, Doncaster, for £20.9m – a net initial yield of 5.61%.
Purpose-built in 2002 for Unilever, the 262,885 sq ft facility has been acquired with a new 15-year lease in place.
The lease is subject to five-yearly upward-only RPI-indexed rent reviews with a collar and cap in place.
The purchase is being funded from equity proceeds.
The property is close to the M18, A1(M) and M1, the ports of Hull and Grimsby, and Doncaster rail freight terminal.
Cushman & Wakefield represented Unilever.
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