LONDON (Alliance News) - Property investors Tritax Big Box REIT PLC, Custodian REIT PLC and Green REIT PLC Wednesday said they have added to their portfolios.
Tritax Big Box said it has agreed to buy a warehouse in Nottingham for GBP17.5 million and a warehouse in Lancashire for GBP28.9 million from DHL Supply Chain Ltd.
Constructed in 2007, the Nottingham property is a modern and high specification distribution facility with ancillary offices and parking over 13.24 acres, with a rental area totalling 255,680 square feet.
The site is being acquired with a new 10-year leaseback agreement, subject to five-yearly open market rent reviews. The next rent review is due in August 2019.
Tritax Big Box said the warehouse in Lancashire, constructed in 2003, comprises a highly specified and fully fitted distribution facility with ancillary offices and extensive car parking over 29.5 acres, with a rentalised area of 471,968 square feet.
Meanwhile, Custodian REIT said Wednesday it has acquired the freehold interest of a retail warehouse in Milton Keynes for GBP5.7 million from an unnamed vendor.
The property is let to Staples UK Ltd and Staples International Inc on a lease expiring in September 2020. The current passing rent is GBP418,886 a year, reflecting a net initial yield of 6.95%.
Green REIT Wednesday said it has agreed to acquire an office building on Dawson Street, Dublin for EUR23 million. The vendors were joint receivers Simon Coyle & Tom O'Brien (Mazars) for Shelbourne Properties in receivership.
Tritax Big Box REIT shares were up 0.2% at 106.75 pence early Wednesday, while Custodian REIT was down 0.9% at 109.00 pence and Green REIT was down 0.6% at 1.27 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.