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Royal London sell B&Q Erdington

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%.

For further information please contact:

Jack Lloyd

T: 020 7317 3796 M: 07747 883231
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Miles Marten

T: 020 7317 3777 M: 07770 748290
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