Deutsche Bank has sold a 600,000 sq ft logistics centre in Liverpool International Business Park for a profit of more than £10m.
It has sold The Vault, which comprises two buildings, for £48m, a 5.35% yield, to European fund Hansainvest.
It paid £34m for the assets in 2012, when it bought them as REEF Asset Management.
The units are both let to homewares retailer B&M on a 15-year lease.
Savills acted on behalf of Deutsche Bank.
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