Tritax Big Box REIT is close to purchasing Morrisons’ national distribution centre in Sittingbourne, Kent , for around £98m.
As Estates Gazette revealed in May, the retailer put up its primary distribution hub for sale through Cushman & Wakefield as part of a £500m sale and leaseback on its industrial and retail properties .
The 920,000 sq ft warehouse had an asking price of £92.5m.
The supermarket chain, which bought the shed from Standard Life Investment in 2008 for £80m, is understood to be interested in agreeing a 25-year sale and leaseback at a rent of £6.20 per sq ft.
DTRE and TRW Real Estate acted for Tritax. All parties declined to comment.
