Ireland
UK
Scotland
London
A Tesco Extra foodstore in Newry has been sold for over £27million.
Savills in Northern Ireland confirmed the sale of the 93,788 sq ft store which is situated on Downshire Road.
It was sold by Aberdeen Standard Investments to a private investor.
The property is on the main route between the city centre and Newry's northern suburbs. Newry's railway station is situated 2 miles North West of the store and a bus stop is situated at the store entrance, providing regular bus services to locations across the city. T
he surrounding area comprises both residential and commercial uses; with Win Business Park, and various government buildings, primary schools and medical facilities nearby.
Ben Turtle of selling agents, Savills Northern Ireland commented: "Savills is delighted to have assisted Aberdeen Standard Investments on the sale of this dominant foodstore in Newry. The high-quality tenant in situ ensured demand for this asset was strong throughout the sales process. The incoming purchaser will benefit from an attractive net initial yield and a tenant with an unexpired lease term in excess of 21 years."
(CD/MH)
