Tritax Big Box REIT has invested £42.9m (€50m) in an Amazon distribution centre in the UK.

The firm bought the Kingston Park asset in Peterborough at a net initial yield of 5.6%.

The property is one of Amazon’s major distribution centres in the UK.

Colin Godfrey, a partner at Tritax, said Amazon had committed “significant capital” into its fit-out of the facility.

He said the investment was a strong addition to the firm’s portfolio of 31 big box logistics assets.

“It also further diversifies and strengthens our tenant and geographic mix, with opportunities for potential asset management,” he added.

The 549,788 sqft property, built in 2006, has links to the Port of Felixstowe and the Midlands.

The property has an unexpired lease term of around 8.7 years, subject to five-yearly upward-only rent reviews.

Tritax this year launched a property income fund targeting assets outside London. The company said the Tritax Property Income Fund (TPIF) would complement its Tritax Big Box REIT.