Mystery buyer swoops for £21m warehouse

A warehouse complex at Darwin Road in Corby, Northamptonshire has been acquired by a global investment and asset management company.

 The site comprises five modern units of 263,586 sq ft which are predominately let to Rhenus Logistics, a freight forwarding company.  Other tenants include Truckeast, which is a main Scania dealership.

 Acting on behalf of Longmead Capital, commercial property agent Prop-Search sold the investment for £21m.  The purchaser was represented by CBRE.

 Prop-Search’s director, Richard Baker, said: “We are pleased to have completed the sale of this substantial investment.  Rhenus Logistics occupies approximately 95% of the site and has proved to be a robust tenant for a significant number of years.  Its long-term position and the potential for significant rental growth was very attractive to the purchasers, which was reflected in the price achieved.”