| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
UK Commercial Property acquires Asda supermarket in Torquay
StockMarketWire.com
|
Real estate investor UK Commercial Property REIT said it had acquired an Asda supermarket in Torquay, Devon, from Aviva Investors for £16.6 million.
The company said the purchase price represented a net initial yield of 4.70%, rising to 5.24% in July 2021.
UKCM said it also had agreed to forward fund the development of a student accommodation asset at 41-45 Gilmore Place in central Edinburgh for £29.1 million.
The purchase of land was expected to complete in February 2021, with delivery of the asset due in 2022, in time for the 2022/23 academic year.
UKCM said the purchases would be funded through existing cash resources, with the company having also disposed of the M8 Interlink Industrial Estate, Coatbridge, for £25.4 million.
Story provided by StockMarketWire.com
|
|
|
|
|
|
