Real Estate Investors plc (REI plc), the Birmingham-based trust with 1.37 million sq ft of investment property, has announced two new lettings in quick succession at Southgate Retail Park in Derby.
Ian Clark, a director at REI, said the two units were snapped up by local businesses soon after they were vacated by Subway
A 1,600 sq ft retail unit to the front has been taken by Basat Mahmood and Aqib Iftikhar on a 15 year lease to open a local convenience store.
A rear unit, also 1,600 sq ft, has been taken on a five year lease by Asgar Tair who runs a boxing gym as a charitable enterprise.
A spokesman said: “Southgate Retail Park comprises a 53,202 sq ft, eight unit, retail and office property, combining a modern retail warehouse scheme and a business innovation centre, with extensive car parking facilities.
“The park is anchored by a Lidl store and serves as a district centre to residents of the Normanton suburb of Derby.
“As well as Lidl, tenants include The Gym Group and the Royal Mencap Society.”
Real Estate Investors Plc is a publicly quoted, property investment company and REIT.
The company’s strategy is to invest in well located, real estate assets in central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.
The portfolio has no material reliance on a single asset or occupier.
