DerivedData for Xcode 4.5

When updating Xcode to 4.5 the DerivedData has disappear it seems. Though it has just been moved to another location. Now it’s at:

~/Library/Developer/Xcode/DerivedData/—

You can find the location in Xcode 4.5 by looking at Preferences->Location. This shows where your Derived Data location actually is on the File System.