Depot changes hands in £42.9m deal
Online retailer Amazon’s distributionhubinPeterborough has been sold in a £42.9 million deal.
The 550,000 square foot warehouse in Kingston Park, Fletton, has been bought by real estate investment fund Tritax Big Box, of London.
It is understood Tritax, which specialises in warehouses of 500,000ft sq plus, hasboughtthepremisesfrom former owner Prologis. Amazon, which employs about 2,000 people at the site, will remainastenantsinthewarehouse. The retail giant still has 8.7 years left on its lease, which is subject to five yearly upward only rent reviews.
Colin Godfrey, partner of Tritax, said: “We are very pleased to have acquired our first distribution centre let to Amazon.”
“The asset is important to Amazon which has committed significant capital into its fit out of the facility.