Real estate investment company LXB Retail has acquired two new retail sites for £22.7 million.
Real estate investment company LXB Retail has acquired two new retail sites for £22.7 million.
The acquisitions comprise Biggleswade Retail Park from Nottingham County Council pension fund, and a DIY retail unit from Xerox Pensions Limited.
The two new acquisitions are a part of a larger programme at the Biggleswade site in Bedfordshire, where LXB has made made four other separate acquisitions over the past two weeks. LXB will have paid a total of £38.8 million for the six acquisitions, which cover 15 acres.
Tim Walton, CEO of LXB manager LLP says that ‘the company is working on a number of other acquisitions and looks forward to making further significant announcements in due course’.
The existing retail site at Biggleswade comprises 155,000 sq ft of letting units, with a passing rent of approximately £1.6 million. Current tenants include Homebase and Halfords.
