NewRiver Retail has made three acquisitions totalling £18.3m and three disposals totalling £5.5m.
The REIT has bought the 114,000 sq ft Lower Audley Street Retail Park in Blackburn, Lancashire, for £14.6m – an 8.85% yield – and the freehold on a 10,591 sq ft Staples retail unit for £2.1m on Sealand Road, Chester.
NewRiver has also bought Felixstowe’s only retail warehouse, a 17,180 sq ft unit let to Homebase, for £1.56 million – a net initial yield of 7.84%.
It has sold a 34,705 sq ft unit at Dolphin Shopping Centre in Poole, Dorset, to L&G for £2.3m – a 7.27% yield – and a 20,100 sq ft unit let to Halfords for £1.8m, representing a 10.93% yield.
A 10,000 sq ft former HSBC bank at 40 Fishergate, Preston, was sold for £1.43m to a private investment company – a yield of 5.96%.
