Substantial Corby warehouse investment sold

A substantial 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, one of the UK's leading freight forwarding companies with specialities including transporting groupage freight, express consignments, hazardous goods and providing warehouse services. Other tenants include Truckeast Ltd, which is a main Scania dealership.

Acting on behalf of Longmead Capital, commercial property agent Prop-Search sold the investment for £21,000,000. The purchaser was represented by CBRE.

Prop-Search’s Director, Richard Baker, commented: “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.”