Sainsbury’s RDC goes for £80m

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RREEF, on behalf of Malaysia’s Employees Provident Fund has bought Sainsbury’s regional distribution centre in Dartford, Kent for £80 million.

The 673,000 sq ft distribution centre consists of three logistics warehouses developed by Prologis.

Sainsbury’s rents the facility for £5,253,990 per year on the basis of a 20-year agreement, running until April 2027. This will amount to some £83 million for the pension fund.

The European Property Investors Special Opportunities Fund purchased the asset in January 2009 for £62 million.

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