Investor spends £75m on retailer’s national distribution centre
THE home of Argos’s National Distribution Centre has been bought for £74.65m.
Property investment firm Tritax Big Box REIT has bought the warehouse at Barton Business Park, Burton-upon-Trent.
The 653,670 sq ft property is let to the retailer for another 12 years and is subject to fixed annual rental increases of 3%.
Colin Godfrey, partner at Tritax, said: “We are pleased to have completed this acquisition, the second investment following our equity fundraising which closed in February. The highly automated facility is one of Argos’ key National Distribution Centres providing downstream supply of goods to Regional Distribution Centres and onward to stores or e-commerce customers.
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“It provides further geographical diversification, complements our existing Argos investment at Heywood, Manchester, and allows us to build upon that existing relationship. Our portfolio now comprises 27 Big Box logistics assets.”
JLL represented the Tritax on the acquisition and David Baroukh Associates acted for Argos.
