De­pot changes hands in £42.9m deal

In­vest­ment

The Peterborough Evening Telegraph - - Business -

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.

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