Segro has acquired a 19,510m² prime, big box distribution warehouse in Northampton in exchange for two recently developed Premier Inn hotels in Uxbridge and Edmonton, in line with its strategy of owning a portfolio of well specified and located modern big box and urban warehouses. The counterparty to the asset swap has asked to remain confidential.
The big box warehouse is fully let to Yusen Logistics, the global third party logistics provider, as an integral element of its contract with Samsung. The purchase price of €24,3m equates to a net initial yield of 5.5 per cent.
