TH Real Estate has had its first taste of the sheds market since its formation through the merger of Henderson Global Investors and TIAA-CREF with the purchase of Heineken’s East Midlands distribution centre.
It has bought the 632,300 sq ft facility at Derby Commercial Park, let to Kuehne & Nagel Drinks Logistics, from Goodman for circa £55m – a 6% yield. K&N has a 10-year lease with no breaks on the shed, which cost £45m to build and is used to service the company’s contract with Heineken.
The lease was signed in August 2013.
CBRE acted for Goodman; Knight Frank acted for TH Real Estate.
chris.berkin@estatesgazette.com
