Aberdeen Standard buys Amazon-let hub for £100m+

Aberdeen Standard Investments has paid more than £100m for a logistics hub let to Amazon. The investment manager’s Long Lease Property Fund has acquired the 532,000 sq ft site at Hinckley Park, off the M69, from IM Properties. It includes 500,000 sq ft of warehouses and 32,500 sq ft of offices. Richard Lawrence, development director at IM Properties, said: “This is a unit that has long been rumoured to be on the market, largely due to its strategic location and the strong covenant of the occupier. “It was always going to create speculation. However, we sold when the time was right for the business, for a record price, negotiated directly with ASI in a deal which was swiftly executed once an approach was made.” CBRE acted for IM Properties and Gerald Eve acted for ASI. To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette Photo: IM Properties