1.Bidfood
Cannock, Birmingham, UK
This property, situated in what is known as the “Golden Triangle” for logistics and distribution real estate in the United Kingdom.
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The property is well located in Riverside Avenue, adjacent the Dundee airport, with direct access to the national
motorway network via the A90 and A92 and within 2 ½ miles from the city centre. It is significant that 90% of the Scottish population is within a 90-minute drive-time of Dundee. This modern 139,000 square foot property comprises a substantial warehouse of four separate units and a stand-alone adjacent office building. The property is let to Brake Bros Limited on a lease expiring in September 2036, offering more than 17 years of unexpired lease term. Brakes distributes food, drink and other products mainly to the catering industry in the UK through more than 20 distribution centres, delivering more than 500 000 boxes of food to 200 000 customer sites every day via a fleet of over 2000 vehicles. Established in 1958, the company was acquired by Sysco Corporation, a NYSE listed company and a global leader in foodservice distribution, in July 2016 for $3.1bn. Two of the four warehouse units have been sublet by Brakes to Amazon UK Services Limited, for 10 years. Amazon have undertaken substantial improvements and upgrades to their premises to meet their specific occupational requirements.
Dundee, Scotland
A single storey modern distribution warehouse with ancillary office accommodation
138,934 square foot
Brake Bros Limited, partial sub-tenant Amazon UK Services Limited
20th September 2036, with no tenant break
5.26%
Fully repairing and insuring (ie tenant responsible for all operating costs), with compounded RPI linked rent reviews, effective 5 yearly, collared and capped at 0% and 4% respectively
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