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Tritax Big Box buys UK distribution facility for £44.3M

Tritax Big Box REIT Plc spent roughly £44.3 million, excluding costs, to purchase a Unilever UK Ltd.-let national distribution facility in Staffordshire, U.K.

The 541,157-square-foot asset on Hickling Road in Cannock was purpose-built for Unilever in 2005 and expanded in 2012 and also features an eaves height of between 10 meters and 28 meters and extensive parking facilities.

The property was acquired with a new 10-year lease and is subject, in five years, to an upward only rent review linked to the retail price index, according to a filing.