Property news - Morley buys Airdrie park

Morley Pooled Pensions has acquired Airdrie Retail Park in North Lanarkshire, from a syndicate of private investors for£16.6 million, reflecting a net initial yield of 5.83 per cent. The 100,000 sq ft (9,290 sq m) park, next to Airdrie town centre, has an open planning consent. Tenants include JJB Sports, Argos, Lidl, Carpetright, Currys, Halfords, Focus Wickes and McDonald's. One unit remains vacant.