Investors swoop for £20.9m distribution site

Investment trust Tritax Big Box has acquired a distribution centre in Doncaster.

The site, which has an internal area of 262,885 sq ft, is home to long-term tenant Unilever, the personal care supplier.

The total consideration is £20.9m excluding purchaser costs, reflecting a net initial yield of 5.61% on the asset acquisition.

Located in Trax Park, the site has a number of major occupiers located close by including Amazon, Wincanton, XPO Logistics, B&Q, and Tesco in addition to the company’s facilities let to Next and The Range.

The Uniliever site was purpose-built in 2002 for the company, and it has been acquired with a new 15-year lease in place.

Cushman & Wakefield represented Unilever.

Colin Godfrey, Partner of Tritax, commented: “Unilever is a leading globally recognised consumer goods company and we are delighted to add them to the very strong list of tenants in our portfolio. This investment further diversifies our portfolio by tenant and business sector. This acquisition maintains our WAULT at over 15 years and is earnings accretive.”

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