Aviva Investors has acquired a distribution unit in the middle of England, near Birmingham, for £139m ($193m).
The centre is let to Sainsbury’s, a UK supermarket chain, on a 25-year lease with five-yearly rental reviews linked to increases in the retail price index.
“Whilst long-income assets have performed well over the past year in challenging market conditions, we believe larger properties are better-positioned to deliver positive outcomes,” Kris McPhail, director of real estate long income, said.
