Network Rail disposes of logistics centre in £35m deal
Network Rail has sold its National Logistics Centre in Coventry in a deal worth £35m.
The unit at Ryton has been acquired by the West Midlands Pension Fund following a competitive sales process.
The rail organisation said funds generated from the sale would be reinvested into the railway network in line with its railway upgrade programme.
As part of the sale agreement, the centre will be leased back to Network Rail on a 15-year term.
The sale is line with Network Rail’s wider strategy to generate funds from asset disposals.
David Biggs, managing director of Network Rail Property, said: “Investment is crucial to improving the railway in Britain. Improvements lead to longer, faster more frequent trains; a better, more reliable infrastructure; and better facilities for passengers, especially at stations.
“The sale of the National Logistics Centre in Ryton is part of this plan to build a bigger, better and more reliable railway which benefits all rail users, and delivers the best value for money for taxpayers.”
The West Midlands Pension Fund looks after the retirement income of local authority employees from across the region.
It is one of the UK’s largest pension funds with more than 300,000 members and net assets worth in excess of £14bn.
Network Rail’s National Logistics Centre at Ryton
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