REIT Snaps Up Amazon's Distribution Centre In England
Tritax Big Box REIT acquired a 549k SF distribution centre at Kingston Park, Peterborough that is let to Amazon. Tritax Big Box paid £42.9M, reflecting a yield of 5.6%. The purchase is being funded from equity proceeds, with senior debt finance expected to be introduced in the near term.
The property is one of Amazon’s major distribution centres in the UK, fulfilling general merchandise online orders and groceries throughout the UK and Europe.
Kingston Park, Peterborough, is well-positioned in a core logistics location with motorway connectivity across the UK. Furthermore, Peterborough was the second-fastest-growing UK city over the last 10 years, providing a large and growing workforce to draw from, underpinning the longevity of the area as a major UK distribution location.