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Argos sells distribution centre for £75m

Published: 29 March 2016
Argos has sold its National distribution centre in Burton-upon-Trent to property investment company Tritax Big Box in a £74.65m deal.
Argos sells distribution centre for £75m
The distribution centre is approx. 640,000 sq ft and, according to Tritax, benefits from significant capital investment by the tenant including substantial internatl automation systems.

Said Tritax partner Colin Godfrey: "We are pleased to have completed this acquisition, the second investment following our recently oversubscribed £200m equity raise which closed in February.

"The highly automated facility is one of Argos' key National Distribution Centres providing downstream supply of goods to Regional Distribution Centres and onward to stores or e-commerce customers.

"It provides further geographical diversification, complements our existing Argos investment at Heywood, Manchester, and allows us to build upon that existing relationship. Our portfolio now comprises 27 Big Box logistic assets."

Argos was recently at the centre of a bidding war between Sainsbury's and Steinhoff, eventually won by the former.

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