Commercial real estate investor Leftfield Properties has sold a one million sq ft warehouse and logistics portfolio to real estate investment trust Liberty Property Trust for £111m.
The portfolio is made up of seven warehousing and distribution facilities that fulfil both national and last-mile distribution roles. They are located in the Midlands and the North West with two properties on the M8 motorway, just east of Glasgow.
The assents have a total passing rent of £6.4 million per annum and have a weighted average unexpired lease term of just under 4.5 years. Current tenants include Tesco, DHL and Great Bear and XPO.