Finance

NewRiver buys Aldi let retail park in Barrow

By 2018-07-11T07:07:00

Aldi supermarket

Source: Shutterstock/jax10289

NewRiver has paid £15.3m for the Hollywood Retail and Leisure Park in Barrow-in-Furness.

NewRiver has plans to convert two of the units into a 20,000 sq ft store let to Aldi on a 20-year lease. Including the Aldi store, the retail park has a weighted average unexpired lease term of 8.3 years, an average rent of £11.36 per sq ft, and the deal represents a net initial yield of 8.7%.

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