Imperial Warehouse

In November 2016 Grit announced that it has entered into negotiations to acquire a 13 560m2 distribution facility in Nairobi, Kenya from Imperial Health Sciences Kenya Limited (“Imperial Health Sciences”) on a sale and leaseback basis, secured by a renewable 10-year triple net lease underwritten by Imperial Holdings Limited for the duration of the lease term.

In addition, Grit acquired a 20 220m2 vacant plot of land adjacent to the distribution facility for a purchase consideration of US$2 996 000.

The distribution facility comprises pharmaceutical pallet locations, as well as consumer and cold-chain pallet locations and was originally custom-developed for Imperial Health Sciences.

Location

Nairobi, Kenya

Anchor Tenant

Imperial Health Sciences

Sector

Light Industrial

Land Title

Leasehold

GLA

13 560 m²

Parking Bays

n/a

Vacancy

0%

Valuation (as at June 2017)

US$20.0 million

Transfer Date

End August 2017

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