£9m retail deal as investor goes shopping

PROPERTY investors Ace Liberty & Stone has been shopping, spending £9m on two retail units in Staffordshire.

The units in Hanley, the main commercial centre of Stoke-on-Trent, are let to Boots and NatWest Bank. Together they cover 59,358 sq ft over five floors.

Ismail Ghandour, chief executive of Ace Liberty & Stone, said: “This important addition to our portfolio comes with the excellent covenants of Boots and National Westminster Bank.

“The purchase of 1 -5 Upper Market Square was funded partly by the over-subscribed fundraising round from existing investors of £3.5 million in February.”

The deal, which is being done through Ace (Hanley) Limited, is expected to complete on November 8.