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Deka Immobilien to buy Bedford, UK, warehouse for £145M

Deka Immobilien Investment GmbH is under offer to acquire a 1 million-square-foot warehouse leased to B&M European Value Retail SA in Bedford, U.K., for more than £145 million, Property Week reported.

DTRE had been seeking at least £144 million for the property, which it has been marketing as a 20-year sale and leaseback opportunity, according to the report. The transaction is expected to result in a net initial yield of 4.5%. UK Land and Property developed the asset.

The facility was completed in July, and B&M transferred into the warehouse in September.

Deka's deal is expected to be completed in 2020. Savills was reported to be representing Deka in the deal.