LONDON (Alliance News) - Ediston Property Investment Co PLC on Wednesday said it has struck a deal to acquire the Plas Coch Retail Park in Wrexham in Wales for GBP22.4 million.
The company has acquired the property from Diageo Pension Trust Ltd and the net initial yield on the purchase will be 6.5%, rising to 7.4% in March 2016 on expiry of a rent-free period.
The property is let to seven tenants, the company said.
Ediston shares were up 0.1% to 107.345 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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