Tritax Big Box REIT is buying a 390,092 sq ft Essex shed for £44.4m.
The investor has exchanged contracts to buy the South East logistics facility, which is located at Harlow Logistics Hub, Edinburgh Way, and let to logistics consultancy Wincanton Holdings and professional power tool supplier Industrial Tool Services.
Separately, the company announced it has exchanged contracts to acquire two separate logistics facilities from a single vendor for a combined purchase price of £44m.
The assets are the Cerealto (UK) Limited National Distribution Centre at Dukeries Industrial Estate, Worksop, Nottinghamshire and the Stobart Group Limited Regional Distribution Centre at Carlisle Lake District Airport, Cumbria.
All of the purchases are being funded by equity.
Tritax partner Colin Godfrey said: “We are very pleased to have acquired this modern facility in a key South East distribution location.
“The South East has a high demand from occupiers requiring close access to London, but limited supply due to competition from high-value alternative land uses.
“The investment further diversifies our portfolio tenant mix and also provides opportunity for rental growth and capital value enhancement from either lease renewal or reletting.”
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
