9th Dec 2015 08:52
LONDON (Alliance News) - Tritax Big Box REIT PLC on Wednesday said it has acquired the northern distribution centre for retailer Matalan Retail Ltd in Liverpool for GBP42.4 million.
The company, which invests in so-called 'big box' warehouse assets, said the purchase price for the property reflects a net initial yield of 6.3%.
The property is let to Matalan for another 21 years and comprises a total floor area of 578,127 square feet.
"We have acquired Matalan's Northern Distribution Centre, adjacent to their headquarters office, at an attractive yield which is accretive to our portfolio income yield," said Colin Godfrey, Tritax partner.
Shares in Tritax were up 0.5% to 127.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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