Aviva purchases Chester block

Aviva Investors Property Trust has reportedly bought a retail and office block in Chester next to the Grosvenor Shopping Centre for £20m.

The deal reflected a net initial yield of 6.4% and is the first purchase made by the trust in two years.

Aviva's portfolio includes a mix of shopping centres, high street retail, retail parks, industrial estates, business parks and leisure schemes throughout the UK. Well-known North West assets include the Triangle shopping centre in Manchester.

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