Warrington warehouse acquired in £4.8m deal

A warehouse unit close to the M62 in Warrington, has been bought for £4.8m by Urban Logistics REIT.

The listed firm has acquired the property from Xpediator plc.

It is among five logistics premises acquisitions announced this morning by Urban Logistics, for a total consideration of £33.1m. The other properties are in Braintree, Oxford, Exeter and Ripon.

The unit is let to CDS (Superstore International) which trades as The Range until December 2032, at a rent of £4.43 per sq ft with increases at 2% compound per annum.

Richard Moffitt, Urban Logistics REIT chief executive, said: “These acquisitions were sourced off-market and are in line with our strategy of focusing on well-located logistics properties that supply essential products and consumer goods.

“Following the successful completion of our recent fundraising, we will now work to conclude the acquisition of further logistics properties from our established pipeline, enabling the rapid deployment of new funds into high-quality income-generating assets.

“With greater scale, we are confident that we can continue to deliver attractive shareholder returns.”