Cadbury’s main Midland distribution centre at Minworth has been sold in a £24.74 million deal.
Hines, the international real estate firm, announced the sale of the Cadbury centre at Midpoint Park on behalf of its Pan-European Core Fund (HECF).
The 403,000-sq ft high-bay distribution warehouse, one of the largest chilled warehouses in Europe, was acquired by US investor Cabot Properties, Inc.
The transaction marks Cabot’s first investment in the UK.
Hines originally acquired the property for HECF in a sale and leaseback deal from Cadbury.
The chocolate maker, now owned by US food giant Kraft, has a lease until 2016.
The property was built in 1993 and expanded in 1998.
The Birmingham office of Colliers International advised Hines. King Sturge acted for Cabot Properties, Inc.