- AEW UK REIT has sold Valley Retail Park, Newtonabbey, Belfast, for £11.05m to a Northern Ireland controlled pension fund.

Valley Retail Park comprises seven modern purpose-built retail warehouse units and is currently fully let to five tenants providing a WAULT of nine years to break and 11.5 years to expiry.

The company originally purchased the 100,413 sq ft property for £7.1m in 2015 with a WAULT of only three years to break and vacancy in excess of 20%.

The company said its proactive asset management activity had added significant value with new lettings to Go Outdoors for a 20 year term and Smyths Toys for a term of 15 years.

At 8:01am: [LON:AEWU] AEW UK REIT Plc share price was +0.38p at 101.38p

Story provided by