Junction 6 Industrial park snapped up in £58.5m deal

Real estate investment trust Tritax Big Box has revealed its acquisition of Junction 6 Industrial Park in its trading update.

The £58.5m deal is part of its strategy to increase its customer offering and providing attractive asset management opportunities.

The prime urban logistics park is less than three miles from Birmingham City Centre adjacent to Spaghetti Junction and comprises 12 units totalling 384,000 sq ft.

Colin Godfrey, CEO commented .”We have taken advantage of investment market conditions to acquire £58.5 million of high-quality urban logistics assets with significant near-term reversionary potential.

“These assets complement our existing portfolio, broaden our customer offer, and provide additional asset management opportunities to drive income growth.

“Our high-quality portfolio, strong balance sheet, accretive development pipeline and visibility on an attractive range of investment opportunities mean we remain well placed to continue generating long-term value for shareholders”.