UK & European Investments makes warehouse disposals

UK & European Investments has sold the freeholds of the Beaumont Road Industrial Estate in Banbury, Oxfordshire, and the Royal Mail Distribution Warehouse in Milton Keynes, Buckinghamshire, in deals worth a combined £40m.

Tesco Pension Trustees bought the Banbury property for £28m, representing a net initial yield of 6%.

It comprises three warehouses spanning more than 465,000 sq ft, let let to Keter UK and Magna Exteriors with an average unexpired lease term of 9.25 years.

The investment produces £1.8m per year.

Meanwhile, it has emerged that UK & European was the