National Grid could sell property holdings

The National Grid has said that it is looking into selling around 3,000 acres of land that could subsequently be used for housing developments, it has been suggested.

The Financial Times has said that the land, which is largely non-operational, could sell for as much as £800 million and attract interest from leading house building firms.

In total, 2,955 acres featuring 554 buildings could be sold as part of the deal, though the National Grid has said that it is still considering its options.

"We are looking at the non-operational portfolio of the UK business. We have engaged (real estate adviser) DTZ to help with the process and they have started market testing. We expect to make a final decision on the sale by the end of the calendar year," said a spokesperson, according to Reuters.

However, the group has said that speculation regarding the £800 million fee was inaccurate, as it had "no intention" of making any such figures public.


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