The eight investment properties are in London; Brighton; Northampton and Pontefract and include the 29,000-sq Blenheim House in Brighton, East Sussex and 4,360 sf of retail space in Shelton St, Covent Garden. The portfolio has been independently valued by DTZ Debenham Tie Leung at £25.4 million ($37 million), with an annual rental income of £1.75 million ($2.5 million).
Newport Chief Executive Peter Lewin said: 'This acquisition is a continuation of our ongoing strategy of expanding the asset base of the business. These properties strengthen and enhance our current portfolio with quality tenant covenants and sound occupational leases; and there are good opportunities to improve income and capital values.'
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