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Tritax Big Box REIT sells three UK assets for £77m

By BFN News | 07:24 AM | Tuesday 22 September, 2020

Property investor Tritax Big Box REIT said it had sold three assets in the UK to two separate purchasers for a combined £77m. The assets included the Wolseley, Baker Business Park, Ripon; DHL, Langley Mill, Nottingham; and Whirlpool, Warth Park, Raunds. They were sold at or above their current book value. 'Through our ongoing evaluation of the portfolio, we consider these assets to have reached their full value under our ownership following the completion of asset management initiatives which delivered rental growth and a lease extension,' the company said. 'Based upon factors such as their size and relative lease lengths, and detailed quantitative analysis on expected future returns, these assets are less well aligned with our long-term strategic and portfolio objectives.' Story provided by

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