A 34,000 sq ft retail parade in Chester city centre has been bought for £6.5m.

Hunter Real Estate Investment Managers has completed the acquisition of a high street retail parade on Foregate Street through its Hunter UK Retail Trust. It said that the deal aligns with the fund's strategy to invest in blocks of underutilised assets situated in desirable high street-led locations across the UK.

In addition, Hunter has purchased 9-13 Westgate Street in Ipswich for £2m.

Andrew Moffat, fund manager at Hunter, said: "This latest round of acquisitions demonstrates our selective 'deal-by-deal' approach, which ensures that we choose the very best assets to align with our overall fund strategy.

"We firmly believe that, far from terminal decline, there are still significant opportunities for consistent returns on the high street in the right pockets around the UK. The deals in Chester and Ipswich are a clear reflection of this and further cement our growing portfolio of well-located, value-add assets."