British Land sells stake in Hercules Income Fund

Real estate investment group British Land has completed the sale of its 26.1 per cent interest in the Hercules Income Fund (HIF) to clients of LaSalle Investment Management.

Real estate investment group British Land has completed the sale of its 26.1 per cent interest in the Hercules Income Fund (HIF) to clients of LaSalle Investment Management.

The transaction, which represents a total property value of £72m (British Land's share £19m) and net initial yield of 6.5%, is slightly ahead of the March 2012 valuation.

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