London-based investment adviser 90 North has announced the closing of two acquisitions in the UK for £66 mln (€86.5 mln).
London-based investment adviser 90 North has announced the closing of two acquisitions in the UK for £66 mln (€86.5 mln).
90 North has acquired a Morrisons and Travelodge, developed by Land Securities in 2014 in the centre of Crawley, for £42.5 mln.
The newly completed property comprises a 75,240 sq ft (6,990 m2) Morrisons supermarket, a 110-bedroom Travelodge hotel, two restaurants and 506 car parking spaces. The weighted average unexpired lease term is 15 years at the time of purchase.
In Sheffield, 90 North has acquired a Grade A office building for £23.4 mln, fully let to UK law firm Irwin Mitchell through to 2027. Completed in 2005, the property provides 119,000 sq ft of office accommodation. It forms part of the Riverside Exchange regeneration area.
