Hammerson has exchanged contracts for the sale of its Battery retail park in Birmingham, West Midlands.
NFU Mutual is buying the 135,625 sq ft park for £57.5m – a 6% yield.
Tenants include Next, TK Maxx, Homebase, Sports Direct and Halfords.
Hammerson chief executive David Atkins said: “There continues to be good investor demand for relevant retail destinations with solid brands and modern retailer units.
“This transaction is in line with our disposal strategy, which saw the business achieve more than £400m of disposals in 2017, and provides the opportunity to invest in our development and premium outlet sectors.”
To send feedback, e-mail or tweet @Samanthamcclary or @estatesgazette
