WP Carey has acquired a Morrisons supermarket and a McDonald’s drive-thru at Lime Square Retail Park in Manchester for £20m.
Both properties are leased on a triple-net basis with built-in rent growth. Lime Square Retail Park is located on the A635 arterial road, 3.5 miles from Manchester city centre.
Christopher Mertlitz, head of European investments at WP Carey, said: “This acquisition underscores our commitment to securing high-quality opportunities in the grocery retail sector. Morrisons and McDonald’s are trusted and enduring brands, and these assets, located in a thriving urban area, are exemplary additions to our portfolio. We are pleased to expand our presence in the UK and look forward to building on this success with our valued partners.”
