UK - Standard Life Investments has paid £14.2m for the freehold of a TK Maxx unit in Newcastle-under-Lyme for its Unit Linked Life Fund.
The 261,000 sq ft unit in Lymedale Business Park has an annual rent of £977,120 from a lease expiring in 2016.
It was purchased in an off-market transaction from a private investor. The business park, which comprises 1.5m sq ft of industrial space, includes Asda, Bestway Cash & Carry, Tree of Life and Abacus Distribution among its tenants. A new unit is also under construction.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.