Aviva Investors has acquired the Brunel Retail Park in the UK for £25m (€29.5m).
Consisting of six modern retail units and including two restaurants, Brunel Retail Park in Reading has 117,000sqft of lettable space, with units ranging from 1,009sqft to 35,500sqft. It is currently home to a number of household names including Halfords, Pets at Home, B&M, Home Bargains, Dreams and The Range.
The retail park is on an 8.3-acre site two miles south of Reading town centre, with Central London 40 miles to the east.
James Stevens, head of real estate investment at Aviva Investors, said: “Brunel Retail Park is another example of our ability to make strategic purchases of assets that have faced sharp repricing over the last 18 months. With units let to well-established retail tenants with strong covenants, it is a prime retail park in an attractive micro-location.
“We believe it provides good tenant diversification and spreads income risk, all of which should help to provide long-term performance in our portfolio.”
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