Ekistics sells Sainsbury’s Regional Distribution Centre for GBP 48.75m
London, UK – Ekistics, a real estate investment fund focused on direct, intermediate capital and senior debt investment, has sold the Sainsbury’s Regional Distribution Centre (RDC), Sherburn in Elmet, Leeds to Tritax Big Box REIT plc for GBP 48.75 million.
The asset is let to Sainsbury’s Supermarkets Ltd for an unexpired lease term of approximately 13 years which is subject to five yearly upward only open market rent reviews. The acquisition reflects a net initial yield of circa 6.39% assuming standard purchaser’s costs.
This regional distribution centre is one of Sainsbury’s main regional distribution hubs distributing groceries to supermarket and ‘local’ store formats. It is strategically located with excellent transportation connections via road (A1(M) motorway), rail and air for central UK distribution for both e-commerce and national stores.
John Pedersen, Managing Partner of Ekistics Property Advisors LLP comments: “We are pleased to have advised Ekistics on the both the acquisition and sale of the Sainsbury’s RDC. In addition to Ekistics’ other investment mandates, we look forward to pursuing similar investment opportunities on behalf of our clients in both the UK and European markets going forwards”.
For further information on this investment and/or Ekistics, please contact John Pedersen, Managing Partner of EPA LLP, on +44 (0) 20 7016 3082 (email: email@example.com).