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Aviva buys Manchester retail parade

Aviva Investors has bought the retail parade at Lancaster Buildings in Manchester city centre from Lancaster Buildings Nominees (No.1) Ltd and Lancaster Buildings Nominees (No.2) Ltd for £7.1m, reflecting a net initial yield of 6.82%.
By Jamie Campbell
July 21, 2015 | 5:25 P.M.

The traditional stone property is located on 65-77 Deansgate within the St Ann’s Square conservation area. The six self-contained ground floor shops totalling 12,199 sq ft are occupied by a mix of operators including Barburrito, Caffé Nero, Subway, Cancer Research, Regis and Castle Galleries. The units generate a total annual income of £510,000.

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