CBRE Investment Management has acquired a distribution facility in Bedford on behalf of West Midlands Pension Fund for an undisclosed price.
The 462,700 sq ft freehold asset is located on a 22.5-acre site within Marsh Leys Business Park and is let to supermarket chain Sainsbury’s.
The facility features 15m clear eaves, extensive loading provision, significant power capacity and a large secured yard. The tenant has also invested substantially in automation technology at the property, reinforcing its operational importance within the firm’s wider logistics network.
The property benefits from direct access to the A421, linking to the M1 and A1 motorways.
Shiventa Sivanesan, director, investment management and stewardship at West Midlands Pension Fund, said: “We’re delighted to complete this acquisition as part of our diversified UK direct property portfolio. The investment aligns with our core philosophy of investing in high quality assets, backed by strong tenants that provide a reliable income stream to help meet our pension benefits.”
Natalie Tanner, fund manager at CBRE Investment Management, added: “The property occupies a strategic position within an established logistics cluster and plays a critical role in Sainsbury’s supply chain operations. Combined with the asset’s modern specification, strong connectivity and opportunities to further enhance its sustainability credentials over time, we believe it represents a compelling addition to the portfolio. The investment also reflects our continued conviction in the UK logistics sector, where supply remains constrained for well located, institutional quality assets despite broader market volatility.”
Cushman & Wakefield acted for CBRE IM. The vendor was advised by DTRE.
