The Hercules Unit Trust, the retail warehouse fund advised by British Land and managed by Schroders, has sold a freehold B&Q supercentre in Malvern to Scottish Widows Investment Partnership.
The recently refurbished 25,500 sq ft store was sold for £7.75m, representing an initial yield of 6.23%.
It is let to B&Q until August 2026 at a passing rent of £510,660 pa, equating to £20 per sq ft.
Cushman & Wakefield acted for British Land; and Jones Lang LaSalle represented SWIP.
annabel.dixon@estatesgazette.com
