News

Aberdeen Asset Management acquire Isle of Wight B&Q

Price: £23 million Type: Investment Sale Status: Completed

Aberdeen Asset Management, on behalf of the West Sussex Superannuation Fund, have acquired the freehold interest in the B&Q Newport, Isle of Wight for £23 million, reflecting a net initial yield of 5.9%.

It is let to B&Q plc for a further 12.5 years at £1,454,037 per annum. The rent is reviewed 5 yearly to RPI capped at 3% pa compound.