Tritax Big Box REIT is paying £37.2m to acquire the Brakes Brothers distribution centre in Flex Meadow, Harlow. the price is equivalent to a net initial yield of 5%.
They say the centre is strategically positioned in a core South East location, close to the M11, the M25 and Central London, providing distribution reach across the South East. It is currently undergoing a comprehensive refurbishment programme (fully financed by the tenant) and comprises a rentalised area of approximately 268,000 sq. ft., a low site cover of 37%, and features cross dock loading and a temperature controlled environment.
The seller is LondonMetric Property
BBOX / LMP : Tritax buys Brakes distribution centre