First World Hybrid Real Estate take over Marina Quay Retail Park
An Isle of Man investment firm has bought a shopping park in Rhyl, Wales for 17 million pounds.
It’s the first retail acquisition by First World Hybrid Real Estate, who are managed by FIM Capital Ltd of Athol Street, Douglas.
The deal sees them taking ownership of the Marina Quay Retail Park from Scarborough Development Group.
The £17m deal represents a net initial yield of 6.25%. Marina Quay generates annual rent of £1.1m.
The 12-acre North Wales shopping centre boasts Aldi as its anchor tenant.
Work underway to 'get confidence back in the economy'
Energy and food security "two most important things", says MHK
Gatwick drop-off fee rises again
Isle of Man inflation holds steady at 2.8 percent in November
