Magna Park site sold by London and Stamford
Lutterworth's 5110 Magna Park site has been sold as part of a £265m deal.
London and Stamford Property disposed of the 213,519 sq ft warehouse, which was snapped up by BRE/Rhombus Sarl, an entity managed by affiliates of The Blackstone Group International Partners.
Property investor London and Stamford sold its entire Triangle Distribution Portfolio excluding its Central park, Rugby location, for £265m.
The deal price, which exceeded the portfolio's 30 September valuation, comprised 17 distribution hubs.
London and Stamford said: "The sale will only complete at the year end so allowing the company to retain the benefit of this income for its full financial year.
"The net proceeds from the disposal will supplement our existing cash resources and provide further firepower as the company positions itself to take advantage of investment opportunities which it expects will occur in 2012."
