The Universities Superannuation Scheme (USS) has paid Arlington Property Investors£29.2 million for the White Lion Retail Park at Dunstable, Bedfordshire.
The 124,375 sq ft (11,555 sq m) retail park comprises 12 units. These are let to tenants including Halfords, JJB Sports and PowerHouse. The sale price reflects a net initial yield of 5.87 per cent.
USS retail property fund manager Graham Burnett said: 'White Lion Retail Park is a significant addition to our retail park portfolio and follows recent purchases in Harlow and Hull.'
He added: 'We remain very positive about the prospects for the retail warehouse sector and are actively seeking further investments.'