POLAND Tritax sells Castorama warehouse in Łódź for EUR 65.5 mln
Investment & financeschedule 16 February 2021
The 101,000 sqm warehouse has been sold to South Korean clients of Savills Investment Management
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London-based Tritax EuroBox has agreed to the sale of its 101,000 sqm warehouse leased to Castorama in Łódź for EUR 65.5 mln to South Korean clients of Savills Investment Management.
The purchase price is 15 pct above its most recent valuation at the end of September 2020. It represents a 4.95 pct gross initial yield, compared to the EUR 55 mln purchase cost for Tritax, which reflected a gross initial yield of 5.8 pct. This is Savills IM’s second transaction on behalf of the Vestas European Strategic Allocation Logistics Fund (VESALF I), a pan-European logistics investment fund launched in partnership with Seoul-based Vestas Investment Management in late November 2020.
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