Tritax Big Box REIT has sold three investment assets for £125 million, including a Worksop warehouse.
The purchaser is a “leading global investor in real estate.”
The 330,000 sq ft Worksop property, which is let to Cerealto for a further 12.5 years, was acquired by Tritax Big Box REIT in November 2017 and was constructed in 2007.
The other buildings in the deal consist of a 470,000 sq ft site in Skelmersdale, let to DHL, and a property in Knowsley, with a ground floor GIA of 578,000 sq ft, let to Matalan.
Colin Godfrey, CEO for 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.”
