trending Market Intelligence /marketintelligence/en/news-insights/trending/OePStqtkrKCRIer5BSyy3A2 content esgSubNav
In This List

Tritax Big Box buys UK distribution facility for £92M


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Tritax Big Box buys UK distribution facility for £92M

Tritax Big Box REIT Plc acquired a distribution facility at Birch Coppice Business Park, Dordon, Birmingham, for a total sum of £92.3 million, reflecting a net initial yield of 5.25%.

The building, which has a gross internal area of more than 700,000 square feet, including the mezzanine floors, serves both Ocado Ltd.’s and Wm Morrison Supermarkets Plc's online retail businesses. The property, operated by Ocado, has an unexpired lease term of approximately 21 years, subject to annual upward only rent reviews indexed to the Consumer Price Index and capped at 3.5%.

The company plans to fund the purchase via equity, with Morrison Supermarkets acting as guarantor.