Deka buys B&M logistics hub in sale and leaseback

B&M European Value Retail has sold the freehold for its distribution centre in Bedford to Germany’s Deka Immobilien, for £153.8m. Deka has bought 100% of the share capital of B&M subsidiary Bedford DC Investment Limited, which owned the freehold. Works on the property, which has been leased back to B&M, completed in September. UK Land & Property was its development manager.  It features just over 1m sq ft of warehouse and ancillary space, within a 64.7 acre site.  The acquisition marks Deka’s return to the UK logistics market, after it sold a Sainsbury’s distribution centre at Waltham Point in 2014.   Savills and CBRE represented Deka Immobilien on the acquisition. DTRE and Brabners advised the seller. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette