Legal & General Property (L&G) has emerged as the frontrunner to acquire Segro’s GL7 portfolio of industrial estates, Property Week reports. L&G is purchasing the £52 million portfolio for its £744 million Industrial Property Investment Fund (IPIF).

The portfolio, which generates annual rent of £4.6 million, consists of seven Greater London estates. Chancerygate and William Pears Group also placed bids at an earlier stage but neither was selected.

Click here for the story from Property Week.