South Scotland

Dumfries retail park snapped up for £20m

Cuckoo Bridge
Image caption The new owners described the site as the "dominant retail park" in the town

Property investors have completed the purchase of a Dumfries retail park in a deal worth a little over £20m.

NewRiver Retail has acquired the Cuckoo Bridge development, previously owned by British Land.

The firm described the site located close to the A75 as the "dominant retail park" in the town.

The park is home to a number of retail outlets including Homebase, Dunelm, Poundstretcher, Laura Ashley, B&M, KFC and Costa Coffee.

NewRiver said it hoped the purchase would "drive income and capital growth".

Property Director Allan Lockhart said the deal would extend their "growing and sustainable income stream".

"This favourably-located asset is well established in the local community, providing every day necessities for the local population," he added.

He said that the retail park presented "excellent opportunities to generate attractive cash on equity returns".

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