Lambert Smith Hampton (LSH), acting on behalf of Knight Frank Investment Management (KFIM), has brokered a deal to acquire Amazon’s main Scottish fulfilment centre in Dunfermline for an undisclosed sum.
The 1m sq ft unit, which is let to Amazon until 2031 represents the largest single-asset industrial investment deal in Scotland.
The unit, which is fully automated and features conveyor belts moving packages from order receipt to fulfilment to packaging and finally the loading bays, was purpose-built for Amazon’s services in 2011 due to its strategic location and proximity to the main transport networks.
Ric Crane, Partner at KFIM, commented:
“This is our fifteenth acquisition for Korean clients, which we are delighted to have acquired off-market. The asset is well positioned to deliver strong future performance. We continue to seek assets with similar investment characteristics in both the UK and Continental Europe.”
Alex Carr, Head of Industrial & Logistics Capital Markets at LSH, added:
“This transaction is Scotland’s largest ever single-asset industrial investment deal and, not only does it provide our client with a secure income stream from a major global occupier, it is also a significant vote of continued confidence in the UK’s industrial investment market despite the coronavirus pandemic. KFIM’s acquisition should send strong signals to other potential purchasers looking for opportunities to invest in UK industrial.”