National Grid UK Pension Scheme has sold six UK properties for more than £70m to take advantage of the strong investment market
Willowbrook Retail Park in Loughborough was purchased by Cordea Savills for more than £29m, reflecting a net initial yield of 4.67%. Savills was the adviser.
Ramsgate Road Retail Park in Margate, which is let to B&Q, was sold to B&Q Properties for £14.65m, reflecting an initial yield of 4.88%. Savills advised B&Q Properties.
Greenhills Real Estate bought Del Monte House, an office on the outskirts of Staines, for £10.3m, reflecting an initial yield of 6.71%. Cushman & Wakefield advised Greenhills.
National Grid has also sold 7/8 Commercial Street in Newport, a shop let to Arcadia, to investor Robert Noe for £3.06m, reflecting a yield of 5.16%; and White Rose House and Pannell House in Leeds city centre to Commercial Development Projects for £7.8m.
Atisreal advised National Grid on all the transactions.