John Lewis PLC Distribution Centre “MP2” Magna Park, Milton Keynes.

Off market disposal of a core logistics property; setting a new benchmark yield for 2020.

BSB advised on the disposal of John Lewis PLC’s “MP2” warehouse to DEKA Immobilien. Built in 2014 and extending to 669,000 sq ft, this state of the art warehouse is let for a further 23 years without break incorporating annual fixed uplifts. The price achieved a sub 3.75% net initial yield, a new benchmark for non-investment grade credit for 2020.

Disposal on behalf of Lime Property Fund (c/o Aviva Investors).