First Property (Fprop) has announced that, in conjunction with a club of investors, it has acquired a portfolio of nine regional Lidl supermarkets in Romania at a cost of €10.5 million. The net operating income being generated by the properties is currently €1.16 million per annum, equating to a yield on purchase costs of around 11% per annum. The weighted average unexpired lease term of the portfolio of properties exceeds seven years.
07 Jan 2016
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First Property Group plc (FPO:LON) | 19.6 0 0.0% | Mkt Cap: 21.7m
- Published:
07 Jan 2016 -
Author:
Chris Thomas -
Pages:
2
First Property (Fprop) has announced that, in conjunction with a club of investors, it has acquired a portfolio of nine regional Lidl supermarkets in Romania at a cost of €10.5 million. The net operating income being generated by the properties is currently €1.16 million per annum, equating to a yield on purchase costs of around 11% per annum. The weighted average unexpired lease term of the portfolio of properties exceeds seven years.