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Real Tritax Big Box REIT acquires distribution unit in Avonmouth for £90m
StockMarketWire.com
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Warehouse assets investor Tritax Big Box REIT said it had acquired a distribution unit in Avonmouth, Bristol, for £90 million.
The acquisition reflecting a net initial yield of 5.1% for about a 13 year income.
The asset expanded the company's exposure to the South West of England.
'Following approval for a deep-sea container terminal at Avonmouth, the capacity of the docks is expected to double over the next 10 years,' the company said.
The asset offers 12.8 years of unexpired lease term , with five-yearly rent reviews providing a minimum of CPI uplifts, and opportunities to add further value through a potential lease extension, it added.
At 8:05am: (LON:BBOX) Tritax Big Box Reit PLC share price was 0p at 163.6p
Story provided by StockMarketWire.com
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