Member Article

Melmerby Wolseley Centre acquired for £12.2 million

Tritax Big Box REIT plc has announced that it has acquired the Wolseley Regional Distribution Centre (“RDC”) at Melmerby, North Yorkshire for a purchase price of £12.24 million.

The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

Melmerby is one of a number of regional distribution centres in the Wolseley UK network, which are supported by its national distribution centre and head office located in Leamington Spa.

Wolseley UK employs 220 people at Melmerby DC, which is conveniently positioned close to Junction 50 of the A1. It is a key component of the Wolseley UK supply chain.

Constructed in 2001, the property is of a high specification and provides a key RDC with ancillary offices and extensive parking over approximately 10.9 acres, with a rentalised area totalling 221,747 sq ft, thereby providing a low site cover of approximately 46%. The warehouse has an eaves height of 12m.

The distribution warehouse is being acquired with an unexpired lease term of approximately 12.5 years, which is subject to five yearly open market rent reviews.

SG Commercial and WHY represented the Company. Cushman & Wakefield represented the vendor.

Colin Godfrey, Partner of Tritax, commented: “We are delighted with our acquisition of the site and building leased by Wolseley UK in Melmerby, which serves the North of England, Scotland and Northern Ireland with immediate motorway connectivity. It also provides tenant diversification to our current portfolio.”

This was posted in Bdaily's Members' News section by Clare Burnett .