Carillion Developments and Canon House Properties has sold its Mercedes Benz and Smart Car dealership at Lawley Middleway, Birmingham to Standard Life.
Standard Life bought the 35,340 sq ft property for £8.9m, reflecting a yield of 6%.
The property is leased to Daimler Chrysler UK Retail on a 25-year FRI lease at £550,000 pa.
Capital Retail and Donaldsons advised Carillion Developments and Canon House Properties. Standard Life was advised by Ayles Heath Buchanan Neve.
References: EGi News 16/11/04
