British Land has sold a UK town centre retail park for £20.2 mln (€26.3 mln) to NewRiver Retail.
The Cuckoo Bridge estate in Dumfries, Scotland, covers a total area of 12,000 m2 and was described by the purchaser as the 'dominant retail park' in the town, which has a population of 50,000. Tenants include Homebase, B&M, Dunelm and Poundstretcher.
NewRiver's Property director Allan Lockhart said: 'The acquisition demonstrates our ability to grow the portfolio through our carefully selected acquisitions in line with our focused business model.
'This favourably located asset is well established in the local community, providing every day necessities for the local population.'
