Real Estate Investors has bought a multi-let retail asset in Royal Leamington Spa, Warwickshire, for £7.45m – a net initial yield of 8.05%.
The 31,550 sq ft property is fully let to tenants including McDonald’s, Tiger UK, Oxfam, and EE.
Real Estate Investors chief executive Paul Bassi said: “This prime investment is multi-occupied with a diverse tenant line-up and provides asset management opportunities to increase capital and rental income. It takes our contracted rental income to £17.5m, which is up 2.88% in the current financial year.”
He added: “The Midlands is a growth market within which we are uniquely connected and together with our existing cash and bank facilities this makes us ideally placed to make further selective acquisitions during this period of political and economic uncertainty.”
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