Hines buys Royal Mail warehouse for £25m

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Hines Global Income Trust has bought a Royal Mail sorting warehouse in Edinburgh for £25m.

The 215,745 sq ft space occupied by Royal Mail, is located on Edinburgh’s Sighthill Industrial Estate adjacent to Hermiston Gait Retail Park in the West of the city.

The site acts as the collection and sorting point for all mail from the east side of Scotland and employs over 700 people on site.

This year Hines Global has purchased a 139,387 sq ft property in Milton Keynes, occupied by Charles Tyrwhitt, and a 270,248 sq ft distribution facility in Bristol occupied by DSG Retail.

Greg Cooper, Hines UK director of industrial and logistics, said: “The site is a key location for Royal Mail and is well positioned to serve Edinburgh and the wider east of Scotland.”

ACRE Capital Real Estate advised Hines Global on the deal and Knight Frank represented RPMI Railpen.

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