UK - Legal & General Property has sold a Heathrow office building for £9m to a private buyer, reflecting a yield of 5.75%.
The two-storey building yields rent of £575,000 a year and is held on a 15-year leasehold until 2017.
FPD Savills advised on the sale.
The Pensions and Lifetime Savings Association (PLSA) has revamped the standards for its Pension Quality Mark (PQM) in a bid to raise the quality of single-employer defined contribution schemes.
People approaching retirement are "systematically misjudging" their longevity and undervaluing annuities, the Institute for Fiscal Studies (IFS) says.
Professional Pensions is holding a breakfast briefing on engaging defined contribution (DC) members on 7 February.
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.