Huge car storage site sold in £68m deal

The landlord of the huge 121-acre WeBuyAnyCar storage facility in Corby has sold the site in a £68m deal.

LXi REIT has offloaded the facility, which is used by WeBuyAnyCar owner BCA to store cars.

BCA was one of LXi REIT’s largest tenants. The firm signed a lease extension in July to increase its stay at the site from 16 to 25 years.

The sale is set to be completed by the end of November.

A statement from LXi REIT said: “[We are] under offer and in solicitors’ hands on a range of pre-let forward funding and built asset acquisitions which will fully deploy in short order the proceeds of the BCA sale across a number of long-let, index-linked assets secured to strong tenant covenants in robust sectors at a materially higher entry yield. Further details will be provided shortly.”