Realty Income has acquired the freehold interest in a Lidl store in Redditch from Woodbourne Group for £6.497m.
The supermarket opened in July 2022 following a major redevelopment of the Battens Drive site by Woodbourne Group. The company entered into a 25-year lease agreement with Lidl UK.
Tani Dulay, chief executive of Woodbourne Group, said: “The deal with Realty Income is a testament to our ability to acquire underperforming assets and create institutional-grade stock that investors can trust, even under challenging market conditions. It is also a great result for the region, showing that major investors recognise the opportunities offered by property developments and investments in Birmingham and across the West Midlands.”
Woodbourne Group was represented by Eversheds Sutherland in the off-market deal.
