BrewDog sells Eurocentral 'Hop Hub' in eight-figure deal

Craft beer maker BrewDog has reached an eight-figure sale-and-leaseback deal for its global distribution headquarters, known as the “Hop Hub”.

BrewDog will lease the site, one of Europe's first refrigerated beer warehouses, on a 20-year deal. Picture: Contributed

The logistics and distribution centre, at Eurocentral in the Central Belt, has been acquired by CBRE Global Investors.

The property investor will lease the site back to the Ellon-based brewer on a 20-year deal, allowing it to continue operations at the facility, which supports more than 60 jobs.

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Although full details have not been disclosed, it is understood that the transaction represents an investment in the region of £14 million by CBRE.

This comes just one year after BrewDog struck a deal with Muse Developments to purchase the site.

It consists of a 129,000 square foot modern distribution unit located within the 650-acre Eurocentral industrial site and houses one of Europe’s first refrigerated beer warehouses.

BrewDog was represented by MWM Property Consultants, while Knight Frank acted as advisor for CBRE.

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Tom Stanton at CBRE said: “This is a unique opportunity to acquire a well specified, modern facility in Scotland’s premier logistics and distribution location.

“The property sits at the heart of BrewDog’s logistics supply chain and we look forward to developing a strong, long-term relationship with them over the coming years.”

Alasdair Steele, head of the Scottish commercial division at Knight Frank, added: “The deal for Hop Hub underlines the compelling case for well-placed industrial and logistics assets – a large single-let unit with long-dated income underpinned by a strong covenant.

“These types of assets are relatively rare, but highly sought-after.”