Jun 17 2010
Metric has exchanged contracts to acquire Damolly Retail Park, Newry, Northern Ireland from Corbo, a private property company, for an initial payment of £28.4 million, reflecting a net initial yield of 6.25%.
Metric will use its existing cash resources to fund the purchase. The retail park comprises 150,000 sq ft of retail space arranged across nine units let to a range of high quality tenants including B&Q, Smyths Toys, Carpetright, Next and Currys off a low average rental of £12.70 psf.
The full article can be found in the attached file.
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