AEW UK REIT PLC has acquired Valley Retail Park, Newtownabbey in Belfast for £7.2 million.
The real estate investment trust said the site comprises seven modern purpose built retail warehouse units with tenants including Harvey Norman Leasing, Halfords and Harry Corry Ltd.
This is AEW’s fourth acquisition and it now has around GBP40 million in investments. “We are pleased to have now completed four acquisitions for the REIT and are working in line with our proposed timetable as set out to investors prior to the REIT launch. We currently have under offer a range of similar deals and therefore expect to be able to make further announcements over the coming weeks,” Portfolio Manager Alex Short said in a statement.
TDK assisted in the purchase with the due diligence and are now retained to provide Asset Management and the implementation of a letting strategy for the Park. Commenting on this Mark Thallon, Partner at TDK commented, “We are delighted to be involved in this scheme with AEW and look to forward assisting with letting the voids and implementing our strategy for the Park.”