We advised Tritax Big Box REIT on the off market acquisition of a pre-let National Distribution Centre investment for £89.3m reflecting a net initial yield of 5.2%. The building is pre-let to BSH Home Appliances Ltd, part of the Bosch Group for a term of 10 years and once built will extend to 945,733 sq ft on a 42.4 acre site.
The property will comprise a cross-docked facility with 360-degree circulation and have 15m eaves. It will benefit from direct access onto the A43 dual carriageway, which has recently been upgraded, providing improved access to the M1 southbound, the M6 and A1(M) via the A14 dual carriageway. MLP is capable of potentially accommodating approximately 5 million sq ft of logistics space and benefits from a 500-metre rail siding and yard for potential future connection onto the rail freight network.
Given the size of the building, lease term and lot size, we provided our client with a comprehensive overview and analysis of the national investment and occupational markets (units in excess of 500,000 sq ft) through our dedicated sector specialist team in London and our regional experts.
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