Network Rail is to sell the majority of its commercial estate to Telereal Trillium and Blackstone Property Partners for £1.46bn.
The sale covers about 5,200 of the 7,500 properties that make up NR’s commercial estate. The majority are converted railway arches. Properties in Scotland are not covered in the sale.
Telereal and Blackstone will hold equal ownership stakes with Telereal overseeing day-to-day management of the portfolio.
NR chairman Sir Peter Hendy said:...
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