Avison Young has sold the B&Q in Erdington (Birmingham) on behalf of Royal London Asset Management in an off market deal to Realty Income.
The 113,039 sq ft unit is let to November 2029 at a passing rent of £1,808,624 per annum, equating to £16.00 per sq ft. The site totals 8.7 acres.
The freehold interest in the property was sold for £22.25 million, reflecting a net initial yield of 7.61%.
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