GE and Paradigm snap up 148 Kwik-Fit centres

GE Real Estate UK and Paradigm Real Estate Managers (PREM) have joined forces to acquire 148 Kwik-Fit garage services centres for £103.7 mln (EUR 151.6 mln). The portfolio, which is located across several UK town centres, has been purchased through a sale-and-leaseback transaction. The assets are let to Kwik-Fit UK on a 25-year lease contract. The transaction value reflects a net initial yield of 5.3%.

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