Multi-million property deal

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A COMPANY has acquired retail properties in Portsmouth for £6.4m.

AEQ UK REIT plc directly owns a portfolio of regional UK commercial property assets.

The firm recently acquired the properties on 208-220 Commercial Road and 7-13 Crasswell Street in a multi-million pound deal.

Portfolio manager Alex Short, said: ‘We are pleased to have completed this latest acquisition, which we expect to prove accretive to the company’s yield both on an initial and equivalent basis.

‘We were attracted by both the central location of these units and also the asset management and lease renewal opportunities that the asset provides.

‘The addition of this property complements our existing portfolio and we are pleased to be investing again following the completion of our successful capital raise in October.’