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LONDON (Alliance News) - AEW REIT PLC on Friday said it has struck deals to acquire two further properties in Redditch and Barnstaple for GBP8.8 million.
It has acquired Barnstaple Retail Park for GBP6.8 million, reflecting a net initial yield of 8.5%. The site includes a fully-let retail warehouse scheme let to B&Q, Sports Direct and Poundland.
It has also acquired Carrs Coatings in Redditch for GBP2.0 million, reflecting a net initial yield of 9.5%. The property is located on the North Moons Moat Industrial Estate and comprises a single industrial warehouse.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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