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Our Diversified Property Investments business sold our West Midlands Interchange venture, near Birmingham in the UK, to a specialist developer partnership in July: Oxford Properties and Logistics Capital Partners.
The site, with planning for 8 million sq ft of rail-served logistics, secured a healthy return on our investment over six years. The scheme will reduce long- term carbon emissions by facilitating the transport of more goods by rail, instead of by road.
Once completed, it will also create more than 8,500 jobs and contribute over £680m a year to the UK economy.