Tritax Big Box REIT is buying the Next Group distribution warehouse in West Moor Park, Doncaster for £60m – this equates to a net initial yield of 6.07%. Barclays Bank is providing a £16.4m facility , secured against the warehouse (a loan to value of 27%). Tritax Big Box REIT’s finance, post this loan, will have a blended interest rate of approximately 190 bp over three month LIBOR. The building has over 860,000 sq ft of space and was developed in 2003 and extended in 2005.
