The Dougall Group has acquired two retail investment properties in Royal Leamington Spa for £1.68 million, as the family-owned convenience retail business continues to expand its property portfolio.
The deal, brokered by Bond Wolfe, sees the group purchase 38 and 40 Parade, neighbouring four-storey retail properties on the town's Regency Parade. The fully let assets generate a combined annual rental income of £130,000 and are occupied by Flying Tiger Copenhagen and Moss Bros.
Founded in 1987 and led by owner and director Ricky Dougall, the company operates convenience stores across key locations in the West Midlands and London.
"We are delighted to have acquired these two prominently positioned assets in Leamington, which will be a great addition to our expanding portfolio," Dougall said.
Number 38 extends to 3,497 sq ft and is fully let to Danish variety store chain Flying Tiger Copenhagen at a passing rent of £75,000 a year, while Number 40 comprises 3,377 sq ft and is let to men’s fashion house Moss Bros at an annual rent of £55,000.
The properties occupy prime trading positions in the town centre, close to retailers including Tesco, McDonald's and Caffè Nero. Both include ground-floor retail space, first-floor storage and staff facilities, with rear service yard access for deliveries.