Following the capital raise in April creating over £120m of acquisition firepower, specialist warehouse investor Warehouse REIT is expanding its portfolio of high quality urban warehouse assets by completing two new acquisitions.
The acquisitions comprise an industrial warehouse premises in Doncaster for £1.68 million and a warehouse property in Chorley, Lancashire for £3.60 million. The two separate transactions are in line with Warehouse REIT’s strategy of acquiring well specified warehouses close to conurbations, arterial routes or transport hubs.
The acquisition of Units 1 & 2 of the Delta Court estate within the Sky Business Park, Doncaster increases Warehouse REIT’s holding on the popular estate, where it already owns 36,000 sq. ft. across 6 units and has enjoyed strong performance to date. The asset comprises over 20,656 sq. ft. of modern industrial warehouse space with roller access doors, two-storeys internal offices and generous parking provisions. The acquisition formed a sale and leaseback with a sign production company on a new 10 year lease with a break at year 5, off a low passing rent of £5.81 psf, which compares favourably to lettings that the Company has recently achieved on the estate.
Sky Business Park is situated with easy access to the M18 motorway and adjacent to Doncaster Sheffield Airport where cargo throughput tonnage increased by 42% last year, reflecting the growth of Doncaster as an important UK distribution hub.
The Lancashire asset is a modern purpose built warehouse unit at Eaton Point, Chorley.
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