GE Real Estate UK and Paradigm Real Estate Managers have bought 148 Kwik-Fit for £103, reflecting an initial yield of 5.3%.

The centres are leased back on 25-year leases with fixed uplifts every five and 10 years.

Further sales of 149 Kwik-Fit centres in France and 14 in the Netherlands are also in progress.

The Financia Times