UK - The Universities Superannuation Scheme (USS) has sold 11 industrial assets from its recently acquired Equiton portfolio to Scottish Widows Investment Partnership Property (SWIP) Trust.

The 780,000 square feet of industrial accommodation, located in the south east of England, which included the headquarters of the Red Bull Formula One team, was sold for £41m (€43.9m).

The £23bn USS pension fund bought the 2.9 million square foot industrial Equiton portfolio in the summer for £196m from a joint venture between Prupim, Segro (formerly Brixton) and Liquid Realty.

In addition to the SWIP transaction, USS has sold an industrial unit at Dundee Way Industrial Estate in Enfield - also part of the Equiton portfolio - to its tenants PF Cusack (Tools Supplies) for £3.15m.

In addition to the Equiton portfolio purchase, USS has this year acquired several industrial and retail park assets, as well as Grosvenor's 20% stake in Grand Arcade Shopping Centre, Cambridge.

USS is the UK's second-largest private sector pension fund, with property assets totalling approximately £1.7bn.

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