The 71,000 sq ft store was bought in November 2016 for £9.4 million with an unexpired lease term of 12 years. It has been sold to an occupational pension fund.
Andrew Jones, Chief Executive of LondonMetric, commented:
“We continue to receive approaches for our retail assets at significant premiums to valuation and will react where we believe future returns can be enhanced by disposal and reinvestment.
“This is a good store for B&Q which has delivered very strong income and capital returns for MIPP during its ownership period.”