Tritax has sold two Next distribution warehouses in Rotherham to Legal & General Property for £86.68 million (approx. €100.7 million).
Legal & General Property has agreed to buy the 1.1 million ft² warehouses for its annuity fund in an off-market transaction that reflects a net initial yield of 5.5%.
The properties are let to retailer Next and occupy 50 acres of the 85 acre distribution site Brookfields Park in South Yorkshire.
Source: Tritax
