Claygate Completes Sale & Leaseback of Kent Logistics Hub
CLAYGATE COMPLETES SALE & LEASEBACK OF KENT LOGISTICS HUB
150,000 sq ft scheme acquired by EQT Exeter for c. £20m
Claygate Distribution Ltd has completed a sale and leaseback of its distribution centre in Marden, Kent. The centre comprises two warehouses totalling 149,811 sq ft and has been acquired by EQT Exeter for circa £19.75 million, representing a net initial yield of 4.31%.
The entire scheme is let to Claygate Distribution Ltd on a new 20-year lease with index-linked rent reviews, subject to a tenant’s only break clause at year 15.
The purpose-built logistics facility is located in an established industrial estate in Marden, near Maidstone and within easy reach of central London, the national motorway network and key Kent ports.
Claygate Distribution Ltd is a supplier and distributor of bathroom products and supplied customers such as Travis Perkins throughout the south-east.
Cyril Leonard and Orme Property advised Claygate Distribution while the purchaser, EQT Exeter, was unrepresented.
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