Nottingham retail unit sold in £8m deal

Main Market-listed property investment company AEW UK REIT has bought a retail unit in Nottingham city centre for £8.15m.

The 71,260 property located on Wheeler Gate is let to six retail tenants and nine office tenants including Poundland, Costa and Lakeland.

Alex Short, REIT portfolio manager at AEW UK, said, “We are delighted to announce that the Company has now fully invested its equity and is also geared to 20% of Gross Asset Value.

“The company’s portfolio represents a well-balanced and diversified range of UK commercial property in line with its investment strategy and provides the Company with the ability to pay an 8p annual dividend which is fully covered by income.

“The past quarter has also provided us with some very profitable asset management transactions.

“Aside from this, we continue to see an attractive pipeline of assets across all sectors.”