IN BRIEF: Tritax Big Box completes Kettering warehouse let to Amazon
Tritax Big Box REIT PLC - London-based real estate investment trust focused on logistics properties in the UK and managed by Tritax Management - Completes a 1.0 million square foot logistics facility at Symmetry Park at Kettering in Northamptonshire, England with a pre-let to Amazon.com Inc starting. The facility, which Tritax Big Box says is Amazon's largest UK cross-dock warehouse, is let on a 20-year lease with five-yearly index-linked rent reviews. The lease secures GBP9.8 million in annual rental income for Tritax Big Box. The Kettering development provides a yield on cost at the top end of the company's 6% to 8% guidance range, it says, and ahead of its original expectations. The completion means all three committed buildings at the 136-acre Symmetry Park have now been delivered, Tritax Big Box says. Read More