Tritax Big Box acquires distribution facility

Tritax Big Box REIT has exchanged contracts to acquire the distribution warehouse and adjacent lorry parking facility at Oliver Road, Thurrock, both let to The Co-operative Group Ltd.

The purchase price for the Facility is £56.5m, reflecting a net initial yield of 5.53% on the asset acquisition.

Completion of the purchase is conditional on the successful completion of the fundraising announced by the Company on 28 September 2016 (the "Issue") and is expected to occur on or around 20 October 2016.

This purchase comprises the third asset noted as being under offer and in exclusivity in the announcement of the Issue and takes the total number of assets in the Company's portfolio to 34.