Kier is set to win the battle to buy a majority stake in Trevor Cartner (left) and Mike Hughes' UK logistics developer Helios Properties.
Property Week can reveal that the developer and contractor has beaten rival bids from US developers CalEast and AMB Property to buy an 80% stake in the developer, led by Mike Hughes and Trevor Cartner valued at £150m.
Helios put itself up for sale in March this year through Jones Lang LaSalle, spurred on by the wave of consolidation in the big shed sector, which saw Macquarie Goodman buy Rosemound for £336m and Prologis buy John Cutts' Parkridge for £530m.
The purchase will see Kier inherit properties and development sites in eastern Europe and would include HelioSlough, its partnership with Segro, and the partnership between Kilmartin and JC Musgrave, set up to develop offices in the Tees Valley.
All the parties involved in the deal declined to comment.