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Tritax buys Brakes distribution centre

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

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