LXB Retail acquires new sites

Real estate investment company LXB Retail has acquired two new retail sites for £22.7 million.


Real estate investment company LXB Retail has acquired two new retail sites for £22.7 million.

Real estate investment company LXB Retail has acquired two new retail sites for £22.7 million.

The acquisitions comprise Biggleswade Retail Park from Nottingham County Council pension fund, and a DIY retail unit from Xerox Pensions Limited.

The two new acquisitions are a part of a larger programme at the Biggleswade site in Bedfordshire, where LXB has made made four other separate acquisitions over the past two weeks. LXB will have paid a total of £38.8 million for the six acquisitions, which cover 15 acres.

Tim Walton, CEO of LXB manager LLP says that ‘the company is working on a number of other acquisitions and looks forward to making further significant announcements in due course’.

The existing retail site at Biggleswade comprises 155,000 sq ft of letting units, with a passing rent of approximately £1.6 million. Current tenants include Homebase and Halfords.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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