Investor snags Redditch Aldi store in £6m deal

An investor has acquired the freehold of a Lidl store in Redditch for £6.497m from Woodbourne Group.

Realty Income has purchased the property, which opened in July 2022 and was developed on the Battens Drive site, previously home to the Arrow Valley Health Club.

Woodbourne Group transformed the former gym into a supermarket and secured a 25-year lease with Lidl UK as part of the project.

Woodbourne Group chief executive Tani Dulay said: “The deal with Realty Income is a testament to our ability to acquire underperforming assets and create institutional-grade stock that investors can trust, even under challenging market conditions. It is also a great result for the region, showing that major investors recognise the opportunities offered by property developments and investments in Birmingham and across the West Midlands.”