Construction News

07/10/2015

Drum Acquires £4.5m Fife Retail Park

Drum Property Group has acquired a retail park in Fife for £4.5 million.

The Aberdeen-based developer purchased Duloch Park retail park in Dunfermline.

The Group's Real Estate Investment Trust (REIT) also bought Mayflower House office complex in Gateshead for £2.6m and exchanged contracts for Gosforth Shopping Centre in Newcastle upon Tyne in a deal worth £12.2m.

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Drum's MD, Graeme Bone, said: "All three purchases reflect our investment targets of commercial property assets in strong regional locations across the UK valued between £2m and £15 million, taking advantage of a lack of competition in this market.

The Group's Investment Director, Bryan Sherriff, added: "Moving forward, the REIT will continue to target commercial property assets in strong regional locations that offer identifiable asset management and risk-controlled development opportunities."

(LM/CD)

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