Amazon warehouse sold in £57m deal

A 500,000 sq ft warehouse in Chesterfield which is let to Amazon has been sold in a deal worth £57.3m.

Tritax Big Box has sold the big shed to Warehouse REIT.

Amazon has 13 years left on a lease at the site, just off the M1 in Derbyshire.

Colin Godfrey, CEO, fund management at Tritax, said: “The sale of our Chesterfield asset for £57.3 million demonstrates the successful implementation of our strategy and is a great result for our shareholders. Through our active management, and working closely with our customers, we were able to support them while significantly enhancing the value of the Chesterfield asset, securing a high-quality tenant on attractive lease terms.

“There is strong investment demand in the market for high-calibre logistics assets of this nature, which we are able to take advantage of through carefully selected disposals, redeploying the proceeds into attractive opportunities including our development pipeline where we expect to deliver a 6% to 8% yield on cost.

“With investment demand in the market remaining strong, and attractive opportunities for us to deploy capital, we expect to complete a number of further disposals during the remainder of this financial year.”