Union Property Services sell completed supermarket to Lidl GB
Union Property Services Ltd today announced the sale of the new superstore on Benton Park Road, Newcastle upon Tyne to Lidl GB, for an undisclosed sum.
Formerly occupied by DIY retailer, Wickes, the building was recently transformed into a new food store as part of the discount supermarkets ambitious expansion plans across the nation. Initially leased to Lidl, the investment has now been sold and the asset transferred directly back to Lidl GB.
Raj Sehgal, Director of Union Property said: “We are very pleased to agree this transaction with Lidl GB, who we consider to be one of our best development partners. Newcastle is our home city and has always been a very strong market for us. Together, we have transformed this site into an asset for the city and something fit for the future. Lidl provides great quality products at a competitive price point and the new store has already been a big hit in the local area.
We are on programme to deliver our next superstore for Lidl, a 23,000 sq. ft. unit in Hexham, Northumberland which is set to open in Spring next year”.