CBRE Global Investors has acquired the main distribution centre of UK sporting goods retailer Sports Direct for £120.05 mln (€136.1 mln) in a sale-and-leaseback deal.
The 170,000 m2 campus in Shirebrook, near Mansefield in Derbyshire, comprises six buildings including a warehouse, a Grade A office serving as the company's national headquarters, brand partner offices and two retain warehouse stores. The semi-automated warehouse was completed in 2015.
CBRE bought the complex on behalf of an international separate account client, reported in UK media to be Malaysia's Employees Provident Fund via a subsidiary, Kwasa Logix Sportivo Ltd. The property will be let to SportsDirect.com Retail Ltd on a 15-year lease. Around 4,000 people are employed on site.
The site is six miles east of junction 29 of the M1 motorway, within 4.5 hours' HGV drive of more than half the UK population.
Rob Trevor, senior director responsible for UK logistics at CBRE, said the transaction was a 'unique opportunity'.
'The facility at Shirebrook has been built to the highest specification, it is located in the heart of the East Midlands, the UK’s most active region for logistics in 2018 and has access to a good labour pool,' he said.
'In Sports Direct we have a long-term partner which has put its logistics supply chain at the centre of its highly successful business model. In summary we believe our client has acquired one of the prime XXL warehouses in the UK.'
Michael Murray, head of elevation and innovation at Sports Direct, added: 'We believe that this transaction will realise great long-term value for the business and its shareholders, as we continue to invest in our elevation strategy across the UK and Europe, whilst partnering with an investor who shares our vision.'
CBRE Global Investors were represented by DTRE and Clifford Chance, while Gent Visick, CBRE and Dentons acted for Sports Direct.
