Land Securities has agreed to sell a Morrisons-anchored town centre development in Crawley, West Sussex, to 90 North.
The investment manager, which is backed by Dragons’ Den star James Caan, has agreed to pay £42.5m for the former Sussex House site.
The site is occupied by a 75,000 sq ft supermarket and a 110-bedroom Travelodge, which are let for a further 15 years. It also includes four restaurants.
The proposed purchase price reflects a yield of around 6%.
