British Land has sold a further £70m of retail properties after recently completing the sale of the Greyhound Retail Park, Chester, for £67m.
Contracts have been exchanged for the sale of Priory Retail Park, Merton, at £42.75m.
Priory Retail Park provides 70,000 sq ft of out-of-town retail accommodation.
In addition, four in-town Somerfield supermarkets were sold for £15.26m, reflecting an average initial yield of 5.25%.
The supermarkets are located in Coleford (Gloucestershire),Llandrindod Wells and Buckley (Wales), and Shaftesbury (Dorset).
Finally, a shop in Donegal Place, Belfast, has been sold for £11.97m showing a sub 4% yield.
More sales from the retail portfolio are planned.
References: EGi News 16/01/06
