LONDON-The Royal London Mutual Insurance Society has sold threelarge industrial properties in the Midlands and North-West for over£27 million ($39 million). The sales are part of the drive torebalance the portfolio following Royal London's merger withScottish Life.

A 221,361 sf unit in Bilston West Midlands, let to the retailerIndex, has been sold to Prudential Portfolio Managers Life Fund for£11million ($16 million). The purchase price shows an initial yieldof 8.04%.

In the second deal, again in Bilston, a 152,703 sf unit let toSLB Holdings was sold to Canada Life for £7.025 million ($10million) to produce an initial yield of 8.18%. Ltd. The third salewas the 186,964 sf Post Office unit in Chester, sold to IMProperties for £8.368 million ($12 million) at an initial yield of7.65%.

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