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.