One of the biggest chilled warehouses in Europe was sold this week by chocolate giant Cadbury.
The massive distribution centre in Birmingham’s Midpoint Park went for £24.7 million to US-based Cabot Properties. At 403,000 square feet, the warehouse represents an excellent opportunity for any enterprise looking for chilled storage space in the UK, and is also the first time that Cabot has made a purchase in the British property market.
The sale was made by real estate brokers Hines, acting for its Pan-European Core Fund (HECF), which originally bought the warehouse from Cadbury in a sale and leaseback deal. The chocolate company, which was bought last year by US transnational Kraft, has a lease on the warehouse until 2016.
A chilled storage warehouse of this size presents an excellent opportunity for any business operating in the food sector which wants to maintain large stocks of perishable goods in the heart of the UK.
photo credit: StuartWebster