British Land has sold seven retail properties for a total sale price of £137 mln (€210 mln). The largest sale was the Greyhound Retail Park, Chester, which has been sold for £67 mln (€103 mln). It comprises a 204,000 sq.ft (18,952 m²) Retail Park, including 63,500 sq.ft (5,899 m²) of leisure and 19,000 sq.ft (1,765 m²) of light industrial/trade counters.
British Land's headquarters, Cornwall Terrace, London.
Also, contracts have been exchanged for the sale of Priory Retail Park, Merton, at £42.75 mln (€65.57 mln). Priory Retail Park provides 70,000 sq.ft (6,503 m²) of out-of-town retail accommodation with a bulky goods consent.
In addition, four in-town Somerfield supermarkets in Coleford (Gloucestershire), Llandrindod Wells and Buckley (Wales), and Shaftesbury (Dorset) have been sold for £15.26 mln (€23.41 mln) reflecting an average initial yield of 5.25%. Finally, a prime shop in Donegall Place, Belfast, has been sold for £11.968 mln (€18.36 mln) showing a sub 4% yield.
More sales from the Retail portfolio are planned.
Source: British Land