Worksop warehouse sold in £125m deal

A warehouse in Worksop has been sold as part of a £125m triple deal.

Tritax Big Box REIT has offloaded the 330,000 sq ft building, which is let to Cerealto for 12-and-a-half years and was bought by the firm in November 2017. It was built in 2007.

The other developments sold include a 470,000 sq warehouse in Skelmersdale, which is let to DHL and a 580,000 sq ft unit let to Matalan in Knowsley.

The buyer of all three buildings has not been disclosed.

Colin Godfrey, CEO of Tritax Big Box, said: “We constantly seek ways to optimise our portfolio to crystalise value and redeploy capital into higher returning opportunities. The disposal of three assets for £125 million, in line with their book value, demonstrates the ongoing effective implementation of our strategy and the attractiveness of our assets. The sale to a leading global investor in real estate provides further evidence of the growing stabilisation within the UK investment market. With the UK’s largest logistics focused land portfolio, we have a significant pipeline of higher returning development opportunities we are able to recycle capital into.”