Investor buys Stobart site in £135m spree

By John Corser | Cannock Chase | Business | Published:

LXI Real Estate Investment Trust has bought the Eddie Stobart Logistics’ Norton Canes distribution depot site as part of a wider £135m investment.

Eddie Stobart has a new 20-year lease on the site at Norton Canes

The Property business raised £200m earlier this month to fund further acquisitions.

The Eddie Stobart deal is for a 91,000 sq ft distribution facility on a 10-acre site.

Stobart has a 20-year lease on the site.

John White, partner of LXI REIT Advisors, said: “We are pleased to have swiftly and carefully deployed £135m of the net proceeds of our recent £200m capital raise in secure, long-let and index-linked assets.

“We look forward to investing the balance in short order from our advanced pipeline of additional assets.”

LXI has also bought the sites of a planned Aldi-led scheme in St Albans, a pre-let 78-bedroom Travelodge in Workington, seven Q-Park city centre car parks, 14 Greene King pubs in the North of England and Staffordshire, and a West Yorkshire garden centre.

John Corser

By John Corser
Business Reporter - @JohnCorser_Star

Express & Star Business Editor at head office, Wolverhampton. Welcomes all news of companies and business organisations.


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