BrewDog has agreed to sell the global distribution headquarters it calls the Hop Hub for more than £10 million to a US-based investment fund.
The craft brewer will lease the logistics and distribution centre back on a 20-year lease from CBRE Global Investors , a fund with more than $100 billion of assets under management. The 129,000 sq ft property at the Eurocentral industrial site near Motherwell is one of Europe’s first refrigerated beer warehouses. More than 60 staff work there.
The exact sum paid for the warehouse has not been made public but is confirmed as being in eight figures.
Tom Stanton of CBRE Global Investors said: “This is a unique opportunity to acquire a well specified, modern facility in Scotland’s premier logistics and distribution location. The acquisition is consistent with our continued emphasis on prime real estate in desirable locations and provides a highly attractive, secure long income stream, in line with the fund strategy. The property sits at the heart of BrewDog’s logistics supply chain and we look forward to developing a strong, long-term relationship with them over the coming years.”
Aberdeenshire-based BrewDog was represented in the deal by by MWM Property Consultants, while Knight Frank acted for CBRE Global Investors.
Alasdair Steele, head of Scotland commercial at Knight Frank , said: “The deal for Hop Hub underlines the compelling case for well-placed industrial and logistics assets – a large single-let unit with long-dated income underpinned by a strong covenant. These types of assets are relatively rare, but highly sought-after.”
