Standard Life is in advanced negotiations to buy Exton Estates and CWC Group’s new TNT facility in Dartford, Kent.
It is close to agreeing a deal of around £35m, a sub-4.5% yield, for the 600,000 sq ft development.
It has been fully let to the delivery company on a 20-year lease at an annual rent of £1.6m.
The facility will serve as TNT’s new hub for its road operations as well as a regional sorting office, and is expected to be operational by summer next year.
DTRE represented CWC and Exton Estates; JLL advised Standard Life.
All parties declined to comment.
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