Ediston Property Investment Company has reached a conditional agreement to acquire a £144m portfolio of four retail warehouse parks from the Healey family’s Stadium Group. The purchase is being funded by a share issue and a £54m ten-year loan from Aviva. It will bring EPIC’s existing portfolio to £317m.
EPIC chairman William Hill said: “I consider these proposals to be an important next step in the development of the company. The new portfolio will provide a number of asset management opportunities which should enhance the income profile and the capital value of the group’s property assets.”
