Ediston Property Buys Three Leisure Properties For GBP10 Million

Fri, 04th Sep 2015 06:42

LONDON (Alliance News) - Ediston Property Investment Co PLC on Friday said it has spent GBP10.0 million on acquiring three leisure properties in Liverpool, Hartlepool and Telford.

Ediston said the purchase price for the properties reflects a net initial yield of 8.6%.

The Liverpool and Hartlepool properties are both rented to Mecca Bingo, while the unit in Telford is let to the gaming arm of FTSE 250-listed Rank Group PLC.

The passing rent on the properties is GBP910,085 per year.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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