Warehouse REIT has completed the acquisition of two single-let warehouse assets located in the East Midlands and Cheshire, occupied by Amazon and Wincanton, respectively. The assets have been purchased in two separate transactions for a total consideration of £82 million (€92 million/$109 million).
The East Midlands property is strategically located just off the M1 motorway, the key logistics spine of the United Kingdom, outside the town of Chesterfield. The prime 500,000-square-foot fulfillment center is let to Amazon UK on a full repairing and insuring lease with over 13 years remaining, benefitting from five yearly upward-only rent reviews with no breaks. The company has acquired the asset for cash consideration of £57 million (€64 million/$76 million) from Tritax Big Box REIT.
The second acquisition comprises a 374,000-square-foot single-let warehouse located adjacent to the 29-acre multi-let estate at Midpoint 18 in Middlewich, Cheshire, which was acquired
