Specialist electrical retailer and services company Dixons Retail has exchanged contracts with a syndicate of investors advised by Ness Risan & Partners for the sale-and-leaseback of its Nordic distribution centre in Jönköping, Sweden.

The transaction price, to be paid on completion, is expected to be SEK 600 mln (EUR 67 mln) in cash and compares to a book value of the asset at end-May 2011 of SEK 214.5 mln. The deal is expected to be closed on 23 June 2011.

The property is a modern distribution centre in the Torsvik industrial area and offers a lettable area of almost 100,000 m2.

Scandinavian Property Group advised the buyer. DTZ acted for the seller.