In an off-market transaction on behalf of Tritax Big Box REIT, CBGA Robson have secured the forward commitment of a c. 400,000 sq ft distribution and production facility in Wigan.
The Westwood Park facility will become Nice-Pak International’s new headquarters, serving the UK, Europe, Australia and New Zealand. Upon completion, NPI have agreed to take a new 25 year lease, without break and subject to five yearly RPI reviews.
The agreement will see Tritax pay a sum of £28.66m to the developer, Liberty Properties, reflecting a NIY of 6.42% after costs.
Related Articles: Tritax Big Box REIT Plc, Property Week