Aviva Investors have exchanged contracts to sell the Diamond Portfolio to funds controlled by Harbert Management Corporation for a price of approximately £92.1 million. The portfolio contained six retail warehouse assets and one foodstore, situated in Basildon, Blythe, Dover, Dumfries, Hanley, Northampton and Skegness, providing a total GIA of 488,000 sq ft. The portfolio is let to a range of national retailers, with an unexpired lease term of approximately 10.2 years and the purchase price reflected a net initial yield in the region of 7.17%.
Wilkinson Williams acted for Aviva Investors.
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