Investment firm acquires two DFS warehouses for almost £9m

Property investment company Custodian REIT has acquired two retail warehouses, both of which are occupied by furniture retailer DFS.

Custodian REIT has purchased sites in Measham, Leicestershire, and Droitwich, Worcestershire, occupying an aggregate space of 40,000sqft, for a sum of £8.9m.

Richard Shepherd-Cross, managing director of Custodian Capital, Custodian REIT’s discretionary investment manager, said: “Retail warehouses continue to demonstrate their relevance and appeal alongside the continued rise of ecommerce, with one out of three sofas sold in the UK purchased in-store.

“As bricks and mortar retail undergoes a renaissance, and retail parks continue to outperform, we anticipate future market rental growth which should mitigate some of the acknowledged over-rent, support valuations and protect long term income streams.”

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