Tritax agrees £29m deal for DHL shed

PROPERTY investor Tritax Big Box REIT has acquired a warehouse in Skelmersdale for £28.9m in a sale and lease back deal with distribution group DHL.

The unit covers nearly 30 acres and has 470,000 sq ft of warehouse space. DHL has signed a 10-year lease with a rent of £2m a year.

In a stock market statement Tritax said the deal represented a net initial yield of 6.5%.

Partner Colin Godfrey said: “We are pleased with our acquisition of the DHL Supply Chain warehouse in Lancashire. Its strategic location and the lack of similarly available units, when combined with the opening of the new container port in Liverpool in 2015, make it a good purchase with an excellent income stream.”

SG Commercial and Cedarwood represented Tritax and Jones Lang LaSalle advised DHL.

Tritax has also agreed a similar sale and lease back deal with DHL for a 255,700 sq ft facility in Nottingham for £17.5m.

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