Mixed-use property sold in £7.5m deal

Real Estate Investors, the Birmingham-based listed property investor, has bought a mixed-use block on The Parade, Leamington Spa, for £7.45m.

The property, which includes twelve units, is let to tenants including McDonald’s, Tiger UK, Moss Bros, Timpson Limited, Oxfam, Clydesdale Bank, Savers Health and Beauty, and EE.

Paul Bassi, chief executive, said: “This is an excellent strategic addition to our portfolio, increasing our exposure to this affluent town, located at the heart of the London to Birmingham ‘Warwickshire corridor’. Royal Leamington Spa is a prime commuter belt town offering excellent quality of life, exceptional schools and universities and impressive Regency, Georgian and Victorian properties at affordable prices. These factors are attracting migration from London, with 3,200 new homes expected by 2024, which will bring an influx of affluent families, enhancing both residential and prime retail values.”

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