A property firm has bought a full row of shops on Newport Street in Bolton for £4.1million.

Property and construction company, the Eric Wright Group (EWG), has now completed the acquisition of the parade of shops.

The popular retail scheme comprises 19 retail units made up of both national and independent local retailers including Holland & Barrett, Game, Heron Frozen Foods and Shoe Zone. The deal co-incides with the completion of the letting of a double unit to discount health and beauty store Savers.

Speaking about the acquisition, Group Portfolio Manager for Eric Wright Group, Patrick Naylor, said: “Whilst some investors may be hesitant in acquiring retail assets in the current market, we believe it presents a worthwhile opportunity to secure substantial rental income in areas like Bolton where good investment in the town centres exists and where there is a Council in place which has adopted a proactive attitude to development and regeneration.”

He continued: “This is a great investment for us and a superb addition to our property portfolio. We have two other units available to let and are experiencing a keen level of interest in both of them.”

The acquisition at Newport Street and letting to Savers follows a recent £3m improvement programme to enhance the shop frontage and paving including the installation of new lighting, seating and tree planting as well as the opening of the nearby £48m Great Moor transport interchange.

The announcement to acquire the site comes six months after Eric Wright Group set out its plan to grow its property portfolio to £100million over the next five years.

Cushman & Wakefield advised EWG whilst Smith Price represented the vendor.