Valad has let three retail warehouses totalling 92,488 sq ft to B&Q on behalf of its V+ UK fund.
The European multi-let real estate investment manager has let the space for a combined rental income of more than £900,000 pa.
The stores, located in Sudbury in Suffolk, Thetford in Norfolk and Pembroke Dock in Dyfed, were among 31 included in an option agreement that B&Q entered into with Focus DIY’s administrator, when the company was placed into administration earlier this year.
Under the terms of the agreement, B&Q has now signed three new 10-year leases with V+ UK.
The V+ UK fund is a mixed commercial UK property fund that seeks to provide attractive returns to investors driven by income growth through the delivery of asset management initiatives.
james.buckley@estatesgazette.com
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