British Land has sold its freehold interest in a 122,000 sq ft B&Q Warehouse in Stockton to DVS for £29.25m a 4.64% yield.
The property is let for 20 years unexpired at a passing rental of £1.43m pa, reflecting £11.75 per sq ft. A rent review is due in September.
Montagu Evans advised British Land; Barrs Freer Smith represented DVS.
References: EGi News 20/03/06
