Tritax Big Box REIT Plc agreed to an £81.8 million forward-funding deal for a new regional distribution center inside the Midlands Logistics Park in Corby, U.K.
The agreement is conditional upon securing a full planning permission for the logistics development. The purpose-built asset will contain an internal area of 844,000 square feet, with an eaves height of 18 meters and a parking facility.
The unit, expected to be completed in the winter, is pre-leased to logistics business Eddie Stobart Ltd. for a 20-year term, subject to five yearly upward-only rent reviews linked to the retail price index, with a cap and collar, according to a release.
