Tritax Big Box REIT PLC agreed to extend forward funding to develop a national distribution center at Midlands Logistics Park in Corby, U.K., for £89.3 million.

The investment represents a net initial yield of 5.2%.

Spanning a gross internal area of about 945,375 square feet, the property will serve as a cross-docked facility with 360-degree circulation. The minimum eaves height of the center will be 15 meters, with parking and a site cover of approximately 50%.

The industrial landlord expects practical completion of construction to occur in autumn 2019. The forward funding deal is pending the attainment of full planning consent.

Following completion, BSH Home Appliances Ltd., which has pre-leased the development, will occupy the facility for a 10-year term.