Member Article

Tritax acquires Euro Car Parts and Whirlpool logistics facilities for £115m

Investment firm Tritax Big Box REIT has acquired two big box logistics facilities for a combined total of £115m, with contracts due to be exchanged a on a third asset imminently.

The properties in question include a facility at Birch Coppice, Birmingham which is currently let to Euro Car Parts, and another facility at Warth Park, Raunds in Northamptonshire currently occupied by appliances firm Whirlpool UK.

Coming in at a total price of just over £80m, the 780,977 sq ft Birch Coppice facility is the more expensive of the two and sits within one of the UK’s central rail connected distribution parks, with direct access to the Birmingham Intermodal Freight Terminal.

Meanwhile, the Northamptonshire big box has set the London-based investment firm back a further £35.53m for 473,263 sq ft of internal floor area, which includes a 150,000 sq ft extension completed in 2006.

In total, both deals bring Tritax’s total big box portfolio up to 33 assets.

Following completion of the deal, Colin Godfrey, Partner of Tritax, commented: “We are very pleased to have agreed to acquire these two complementary Big Box distribution facilities.

“These acquisitions will add two new established covenants to the strong list of tenants in our portfolio, which will then comprise 33 Big Box assets. The Euro Car Parts’ new National Distribution facility will provide long term income in one of the most sought after locations within the ‘Golden Triangle’.”