Saturday, August 20, 2022

Spending spree sees ALB acquire six retail units

ALB Group has successfully concluded the acquisition of six former Burtons/Dorothy Perkins retail units from the Administrators of the Arcadia Group.

The portfolio comprises a mix of vacant possession and part income producing shops with upper parts in Derby, Long Eaton, Worksop, Stoke on Trent, Scunthorpe and Stockton on Tees.

Arran Bailey of ALB Group said: “We looked at all of the properties being offered by the Administrators and are pleased to have acquired six of these for the expansion of our portfolio. All of the units are in prime locations and we are confident that retail is going to bounce back post Covid.

“All these properties have been acquired at a sensible price allowing us to offer them to tenants at very reasonable rentals going forward – tenants who were previously excluded from the high street including regional and independents can now play a part in the rejuvenation of the High Street.”

Phil Daniels of FHP, who acted on behalf of ALB, added: “These acquisitions follow closely on the heels of recent retail investment acquisitions in Chesterfield, Hanley and Nottingham.

“We are actively seeking further opportunities for ALB Group including single unit vacant retail, parades with upper parts for active asset management, non-prime shopping centres and vacant offices. As a cash buyer ALB have repeatedly been able to perform quickly following agreement of terms.”

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