A major distribution facility in Wellingborough is set to be sold in a deal worth £29.2m.
LondonMetric Property has agreed to sell the 341,000 sq ft property to an institutional investor, with the transaction expected to be completed at the end of October.
The unit is currently let to Somerfield for 12 years and is sub-let to Yusen Logistics on a short-term basis.
LondonMetric chief executive Andrew Jones said: “This asset has performed strongly over the last six years. We will now look to recycle the proceeds into further asset management and development opportunities across the logistics sector that better fit our return criteria.”
LondonMetric was advised by Fulwell Capital and the purchaser was advised by Strutt & Parker.