Granite REIT Completes £70.8 Million Acquisition of Two UK Logistics Properties
The Granite Real Estate Investment Trust has successfully purchased two logistics properties located in the UK for a total price of £70.8 million, which results in an increase of distribution space in their portfolio by around half a million square feet.
The newly purchased properties are based in Coalville and West Thurrock, both of which are known logistics regions. The properties were acquired in separate transactions during October 2026.
The first acquisition was completed on October 9, when Granite purchased Unit 2 Mountpark Bardon in Coalville for £42.6 million. The distribution facility covers approximately 300,000 sq ft and was constructed in 2016.
The property is fully leased to a leading local third-party logistics company, with 6.1 years remaining on its lease. It was acquired at an initial yield of 5.4%. A scheduled market rent adjustment in just over a year is expected to increase the property's yield to approximately 6.7%, according to Granite's estimates.
Second Acquisition in West Thurrock
Granite completed the second purchase on October 30, acquiring a distribution facility at 1 Barclay Way in West Thurrock for £28.2 million. The property provides approximately 200,000 sq ft of space and was also constructed in 2016.
The facility is fully bonded and leased to a national distributor, with 12.9 years remaining on the lease. Its initial yield stands at 6%. Granite expects this figure to reach approximately 7% following a market rent adjustment anticipated in less than three years.
The West Thurrock property benefits from direct access to the M25 ring road, which circles London. It is also close to the Port of Tilbury, an important gateway for freight serving the capital.
The Coalville facility is situated near the M1 motorway, within the UK's Golden Triangle, a major regional distribution area.
Both acquisitions add income-producing assets to Granite REIT's UK portfolio. The existing leases provide rental income, while the anticipated market adjustments offer opportunities for higher returns over the coming years.
