Retail property - Network Rail sale of Victoria units yields £11.5m

Jones Lang LaSalle sold the UK's largest-ever commercial auction lot in its final auction of last year.

Two adjacent shop units at Victoria Station, London, were sold on behalf of Network Rail to an untamed buyer for£11.5 million at a yield of 6.2 per cent.

The units, totalling 19,555 sq ft (1,815 sq m), are let to Sainsbury's until 2023, and Next until 2016. The rent is£745,000 a year at present.

Jones Lang LaSalle head of auctions Richard Auterac said: 'Today's sale is a natural continuation of what has been happening over the past four to five years, in that lot sizes have been increasing. For the well-let investments, lot size is no longer the drawback that it once was.'