Zak Mir talks to Charles Dickson, Executive Chairman, Roadside Real Estate, its joint venture with Meadow Real Estate Fund VI LP, set up to acquire and develop UK-based roadside real estate assets, has signed an agreement with Lidl Great Britain Limited, to acquire 12 stores for total consideration of £70 million.
Commenting on the transaction, Executive Chairman of Roadside, Charles Dickson, said: “This is a significant transaction for both Lidl and the JV, deploying a substantial portion of our joint venture’s targeted investment quantum into high-quality assets with a nationally recognised tenant under strong covenants.
“The Lidl portfolio is an excellent example of the JVs strategy in action, rapidly providing targeted capital to enable tenant expansion whilst securing asset management fees and creating additional opportunities for income initiatives.”
Roadside (ROAD) announced that Roadside Retail Limited, its joint venture with Meadow Real Estate Fund VI LP, set up to acquire and develop UK-based roadside real estate assets, has signed an agreement with Lidl Great Britain Limited, to acquire 12 stores for total consideration of £70 million. ROAD said this is a significant transaction for both Lidl and the JV, deploying a substantial portion of our joint venture’s targeted investment quantum into high-quality assets with a nationally recognised tenant under strong covenants. The Lidl portfolio is an excellent example of the JVs strategy in action, rapidly providing targeted capital to enable tenant expansion whilst securing asset management fees and creating additional opportunities for income initiatives.
Comment: One of the essentials for small cap companies these days is to be able to rub shoulders with nationally known blue chip counterparties, something which ROAD has done today. Indeed, today’s Lidl news underlines and enhances the way shares of ROAD are up 300% YTD and are capable of much more.
