Dixons Carphone distribution hub sold for £77.3m
The Newark-based National Distribution Centre of Dixons Carphone has been sold to Tritax Big Box REIT for £77.3m.
The 725,798 sq ft building is currently let to DSG Retail, part of the Dixons Carphone group.
The property is one of two National DSG Distribution Centres located on Newlink Business Park in Newark, Nottinghamshire and forms part of DSG’s principal National Distribution hub for direct store replenishment, home deliveries and returns.
DTRE represented the Tritax on the acquisition and Savills represented the vendor.
Colin Godfrey, partner of Tritax, said: “This National Distribution Centre at Newark is a strong addition to the foundation income within our overall portfolio of 28 Big Box logistics assets and has been acquired at a level which is accretive to our portfolio’s current average net initial yield.
“It further diversifies our tenant and geographic mix and maintains the weighted average unexpired lease term across the portfolio at approximately 16.5 years.
“Dixons Carphone is one of the largest pure electrical retailers with a growing online presence and we are pleased to have been able to secure this key asset.”
