P&O Properties has sold a 14,864 sq m (160,000 sq ft) distribution unit on Middlemarch Business Park, Coventry, West Midlands to National Provident Institution for £9m.
The deal reflects a 7.5% initial yield. Current headline rent is £48.42 per sq m (£4.50 per sq ft).
St Quintin acted for the fund; while DTZ Debenham Thorpe and D&P Holt advised P&O.
EGi News 26/07/96
