20th Mar 2006 12:31
British Land Co PLC20 March 2006 20 March 2006 BRITISH LAND SELLS B&Q RETAIL WAREHOUSE British Land has sold the freehold interest in B&Q's 122,000 sq ft Warehouseunit on Portrack Lane, Stockton to DVS for £29.25m, reflecting a net initialyield of 4.64%. The property is let for 20 years unexpired at a passing rental of £1,434,722 pa,reflecting £11.75 per sq ft, with a rent review due in September 2006. Theplanning consent is primarily for the sale of DIY goods. Montagu Evans advised British Land and Barrs Freer Smith represented DVS. Contacts The British Land Company PLC:Bob Bowden 020 7467 2892John Weston Smith 020 7467 2899 Finsbury:Edward Orlebar 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land