A prominent Motorpoint showroom in Birmingham has been acquired in a £8m deal.
AEW UK Long Lease REIT has bought the showroom is located on Lichfield Road, two-miles north of the city centre.
The 68,002 sq ft site is let to Motorpoint, which comprises a modern, detached two-storey vehicle dealership with three large showrooms, as well as a 1.69 acre compound to store 350 cars.
The property provides a weighted average unexpired lease term of 19.6 years to expiry and has RPI linked reviews.
Alex Short, director of AEW UK Investment Management and portfolio manager of the company, said: "We are delighted to have completed this acquisition, further broadening the diversity of our investments.
"We continue to look for opportunities to create shareholder value through targeting alternative property sectors."
The transaction increases the total amount invested by AEW UK Long Lease REIT plc since listing to £49m.
AEW UK Long Lease REIT raised £80.5m from institutional and retail investors at its initial public offering in June and at that time it stated its expectation to substantially invest the net proceeds within nine months of listing.