Cushman & Wakefield’s Capital Markets team has completed the sale of Skygate, The Very Group’s distribution centre in Kegworth, Derby on behalf of Trenport Property Holdings Group.
Blackbrook Capital, a European independent real estate investment firm, has bought the 550,000-sq ft logistics facility.
Skygate is an ultra-high-specification warehouse on the 700-acre East Midlands Gateway which is centrally located within the ‘Golden Triangle’ of distribution, adjacent to East Midlands Airport and with direct access to Junction 24 of the M1 and a dedicated rail freight terminal.
East Midlands Gateway is one of the premier logistics parks in the UK, with unrivalled connectivity and build specifications and access to over 90% of the UK population within a four-hour drive.
Skygate is let to The Very Group on a 25-year lease and is a highly efficient operation responsible for servicing the millions of orders and returns received annually by the online retailer. With a total floor area of more than 553,000 square foot, it is at the heart of the company’s supply chain infrastructure with its automation processes instrumental in mitigating the challenges created by the Covid-19 pandemic.
The facility allows The Very Group to have stock available online within 30 minutes of arriving at inbound delivery, while the process of order to dispatch can also be completed in as little as 30 minutes.
Bruce Poizer, Partner in Cushman & Wakefield’s Capital Markets team, said: “We were delighted with the global nature of the interest in Skygate with investors from the Middle East, Far East and Americas joining those from the UK and Europe with combined bids of over £1.3billion. This helps demonstrate the strength of demand in this sector and especially for state-of-the-art logistics facilities such as these.”