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

BrewDog will lease the site, one of Europe's first refrigerated beer warehouses, on a 20-year deal. Picture: Contributed
BrewDog will lease the site, one of Europe's first refrigerated beer warehouses, on a 20-year deal. Picture: Contributed
Share this article
0
Have your say

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

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.

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.

READ MORE: Tunnock's unwraps purple teacakes to raise awareness of pancreatic cancer

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.”