Saturday, October 24, 2020

Trio of warehouses sold in £77m deal

Tritax Big Box has sold three warehouses to two separate purchasers for £77 million.

A 255,680 sq ft asset let to DHL at Langley Mill, Nottingham, a 473,263 sq ft asset let to Whirlpool at Warth Park, Raunds, Northamptonshire, and a 221,763 sq ft asset let to Wolseley at Baker Business Park in Ripon have been sold.

Colin Godfrey, CEO, Fund Management, said: “Ongoing portfolio evaluation is an intrinsic part of our strategy to deliver value to our shareholders.

“We continue to see strong demand for UK logistics real estate supporting attractive prices on assets which no longer align with our strategy and where we believe they have reached their full value potential in our ownership.

“So far this year we have disposed of £134 million of assets, and we will be redeploying the proceeds into attractive opportunities, including those within our portfolio where we see the potential to secure higher returns for shareholders.”

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