LONDON, UK: Barkby, the roadside real estate business, has announced the first acquisition of its joint venture with Meadow Partners LLP, a property investment firm. The JV has bought a site in Stoke for £5.28 million, which was previously owned by Meadow at cost.
The site has four units, let to Costa Drive Thru, TGI Friday’s, Nando’s and wagamama, with a net initial yield of 7.95%. The site also has 239 car parking spaces, where the JV plans to install 12 ultra-fast EV chargers at no cost.
Charles Dickson, Barkby’s executive chairman, said the Stoke asset offered several investment opportunities, especially the EV charging infrastructure. He also said the JV had a pipeline of over £150 million worth of roadside real estate assets, which would generate long term income and benefit local communities.