- The Local Shopping REIT has entered into a 50-50 joint venture partnership with an established UK financial institution.

The JV has been created as a workout vehicle to invest in commercial investment properties across the UK, primarily comprising local shopping assets that will benefit from the specialist management approach applied by LSR's highly experienced team.

LSR and its JV partner will each commit up to £5m of equity with an initial drawdown of £710,000 each.

The JV will acquire an initial portfolio of four properties at their market value of £3.39m on a 7.8% net initial yield.

At 9:56am: [LON:LSR] share price was +0.01p at 55.38p

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