UK REIT LondonMetric has bought the Newark distribution centre operated by retailer Dixons for £68.5 mln (€88 mln).
UK REIT LondonMetric has bought the Newark distribution centre operated by retailer Dixons for £68.5 mln (€88 mln).
The site, just off the A1 in Nottinghamshire, covers 67,500 m2 and was purpose built for Dixons Carphone in 2006. It rents at £4.5 mln per year, with fixed annual uplifts and 18.8 years to run on the current lease.
‘This prime distribution centre further reinforces our leading position within the retail distribution sector and extends our longstanding relationship with Dixons Carphone,’ said Andrew Jones, CEO of London Metric. ‘We intend to continue with our strategic focus of expanding our investment into this growth sector in tandem with deepening our strong retailer relationships.’
LondonMetric was advised by DTRE.
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