Network Rail has sold its National Logistics Centre for £35 million – five years after spending £25 million to open it.
The site, in Ryton, Coventry, is now owned by the West Midlands Pension Fund who will lease it back to Network Rail for 15 years.
Network Rail said that the sale follows an external analysis which suggested introducing a new inventory and order system, meaning the site will eventually no longer be needed.
Funds generated from the sale will be reinvested into the railway to contribute to delivering the Railway Upgrade Plan.
Managing director of Network Rail property David Biggs said, ‘Network Rail has decided to raise funds from asset disposals to support our ongoing rail enhancement programme.
‘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.’