A DEVELOPMENT that houses some of Reading’s biggest independent shops has been bought up by an investment company, writes James Aldridge, Local Democracy Reporter.
AEW UK has paid £9 million for County House and Harris Arcade. The area includes the bars Pitcher and Piano and Q Club, as well as indpendents such as Crunch Comics, Shave & Coster tobacconists, and The Sound Machine.
In total, AEW has acquired 66,047sq ft of floor space in the town centre, with one of the buildings benefiting from an underground car park.
The company stated that it wants to “drive further value” for its ‘asset’ in Reading through “active asset management”.
Hailing the acquisition, AEW director Ed Long said: “We are pleased to have acquired an asset with very attractive fundamentals that aim to provide investors with high quality returns.
“The asset is in a strong core location, which will provide our tenants with high footfall, and stable customer flow.”
