Wednesday, January 17, 2007

Cadbury Completes £31.5 Million Sale Leaseback of UK Distribution Center

Freeman News - January 15, 2007

The London office of Hines announced today that the Hines Pan-European Core Fund has signed a sale/leaseback agreement with Cadbury to acquire its distribution center, Midpoint Park, in Minworth, Birmingham, for approximately £31.5m. The acquisition represents the fund’s first UK purchase, and the second for the fund. In 2006, HECF acquired a seven-story office building at Uptown München in Munich.

Midpoint Park is integral to Cadbury’s national logistics operation. The project comprises a 400,000 sq ft, high-bay distribution warehouse located in one of the leading distribution parks in the country. Hines was advised by Strutt & Parker in the negotiations, while Cadbury Ltd. was represented by Cushman & Wakefield Healey & Baker. Sphere: Related Content

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