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

GLA1

13 702 m²

EPRA Vacancy

0.0%

Transfer Date

August 2017

Valuation1 (as at June 2019)

US$23.5 million

Ownership

100%

1 Value presented proportional to ownership interest held, 100% GLA reported

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