German fund manager Deka Immobilien has acquired a distribution centre in Bedford in the south of England in a sale-and-leaseback deal worth £153.8 mln (€177 mln).
The vendor was B&M European Value Retail, a UK variety retailer listed on the London stock exchange, which inked a lease deal as part of the transaction.
Completed in September 2019, the Bedford asset comprises high-specification warehouse and ancillary accommodation covering around 1 million ft2 (93,000 m2), set within a 64.65 acre (26 ha) site.
Deka exited the UK logistics market in 2014, when the firm sold a Sainsbury’s distribution centre at Waltham Point. This is its first shed deal in the country since.
CBRE and Savills advised Deka on the acquisition, whilst DTRE and Brabners represented the seller.