UK real estate investment trust AEW UK REIT has added a 58,696sqft asset in North West England to its portfolio.
The London-listed commercial property investor said it has acquired a £6.5m (€7.4m) retail warehousing unit in Bamber Bridge in Preston.
The unit is single-let to Matalan Retail and has another 9.2 years left on the lease.
Laura Elkin, portfolio manager of AEW UK REIT, said: “Our due diligence has shown that Matalan trades well from the location, giving us confidence in its continued occupation, and in the stability of the income stream.
“As we look to return the portfolio to full investment, we continue to analyse an interesting pipeline of potential acquisitions, and expect to make further purchase announcements in the coming months.”
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