British Land : BLND – disposals

British Land has sold two retail parks – The 250,000 sq ft St James Retail Park in Dumbarton (sold to Legal & General for £45.75m) and the 136,000 sq ft Cwmbran Retail Park (sold to UBS for £32.3m).

The net initial yields on these transactions were 5.9% and 6.4% respectively.

British Land said they are trying to concentrate their portfolio on “high quality, locally preferred shopping destinations”.


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