CBRE acted as the lead financial advisor in the sale of the UK’s largest strategic logistics development platform, db Symmetry, involving the sale of the business, and its underlying assets, as a going concern. We successfully advised Delancey and Management on the sale of the db Symmetry business to Tritax Big Box REIT for £370m. Delancey bought the business in 2014 at a value of £50m and have subsequently built a strong management platform comprising four shareholder directors, nine further professional staff and 11 support staff operating from offices in Northampton and Manchester. In addition to the strong management capabilities within the platform, the business has accumulated a substantial development portfolio comprising more than 2,500 acres capable of delivering more than 38 million sq ft of logistics space across the UK. Demand for logistics space far outstrips current supply providing a compelling investment rationale.DB-
The opportunity arose through deep existing client relationships through which we were able to demonstrate the full breadth of our capabilities across Capital Markets, undertaking a strategic top down appraisal of the entire platform rather than the sum of the underlying assets to be appointed as sole financial advisor. The incumbent advisor, Savills, was retained as real estate advisor. It is transactions like this that demonstrate the true differential our Capital Markets team can offer, acting in the role commonly assumed by an investment bank to deliver the sale of an operational business. Capital Advisors and Investment Properties, drawing on our National and London teams, worked seamlessly to deliver this exceptional outcome for our client. This is another significant step forward for our business and further demonstrating our M&A capabilities within Corporate Finance and building on the established track record which includes the recent Bruntwood SciTech, Willmott Dixon, and RESA transactions.