Aviva Investors has bought six retail in units in Reading, UK, for £25 million after the retail park they are located in experienced “sharp repricing”.
Brunel Retail Park, which is 40 miles from London, has more than 117,000 sq ft of lettable space.
Aviva Investors purchase consists of six modern retail units and includes two restaurants.
Tenants there include household names Halfords, Pets at Home, B&M, Homes Bargains, Dreams and The Range.
James Stevens, head of real estate investment at Aviva Investors, said: “Brunel Retail Park is another example of our ability to make strategic purchases of assets that have faced sharp repricing over the last 18 months. With units let to well-established retail tenants with strong covenants, it is a prime retail park in an attractive micro-location.
“We believe it provides good tenant diversification and spreads income risk, all of which should help to provide long-term performance in our portfolio.”
