Prologis has completed the purchase of Sainsbury’s primary national distribution centre at Waltham Cross from Deka.
Terms of the deal were not disclosed; however, Prologis is understood to have agreed a price of around £95m, reflecting a 5.3% yield.
The 705,000 sq ft distribution centre in Waltham Abbey occupies a 4-acre site overlooking the M25 with direct access to Junction 26. It serves all of Sainsbury’s 79 London shops.
“The Sainsbury’s distribution centre at Waltham Cross is a well-let property in a highly supply-constrained market, which fits our strategy of investing in prime locations across London and the South East,” said Andrew Griffiths, managing director, Prologis UK.
He added: “Properties of this size and quality rarely come onto the market, and we are delighted to add it to our portfolio.”
JLL acted for PELP; the vendor was represented by Savills and CBRE.
