Deka Immobilien GmbH has purchased a logistics facility in Enfield, UK, for the equivalent of around €73 million.
With the acquisition of the Sainsbury distribution warehouse, the company has obtained a high quality and fully-let building in an established logistics location that is used by a tenant with a high credit rating. The long-term sole tenant is the UK's third biggest food retailer, Sainsbury's Supermarket Ltd. The building was purchased for the Deka-ImmobilienEuropa mutual fund, which has a total fund volume of €7.3 billion. The property will make a permanent positive contribution to the fund's performance.
Structured in three sections, the distribution hall is fully accessible by vehicle and comprises around 58,000 m² of warehousing space and around 6,300 m² of office space. The property is located approximately 25 km north of the centre of London. As a result of its good location and excellent road links, as well as the large local labor pool, Enfield is one of the most sought-after logistics markets in the UK and has become a preferred location for companies in the food industry.
The DekaBank Group is the biggest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, together manage fund assets of over €18 billion. As a sister company, Deka Immobilien GmbH is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development. Together with the Real Estate Lending unit of DekaBank, the three companies form the Group's Asset Management Property (AMI) business division.