PRUPIM is buying a 105,000 sq ft Morrisons supermarket development in Birmingham for £50m – a yield below 4.5%.
The store and eight shops are being developed by Chase Midland Estates and will now be funded by PRUPIM, which will own the site on completion.
Morrisons has signed a 35-year lease for the scheme in Sheldon.
GVA is advising Chase Midland Estates.
Nick.whitten@estatesgazette.com
