Realty targeting further retail park acquisitions
American real estate group Realty is in advanced discussions with Ediston Property Investment Company regarding a possible purchase of its property estate.
Ediston confirmed it is in talks with RI UK 1 Limited, a subsidiary of Realty, over the sale of its retail park estate.
The property company currently invests in 11 retail parks in Stirling, Haddington, Sunderland, Widnes, Barnsley, Prestatyn, Hull, Wrexham, Glasgow, Daventry, and Rhyl. Ediston says its portfolio has a value of £208.4m with a contracted rental income of £16.5m.
However, Ediston said there can be “no certainty at this time” that a sale will take place, and that no final price or terms have been agreed.
It was recently reported that Florida-based Realty is eyeing the purchase of Inverness Shopping Park, the Kingston Centre in Milton Keynes, and Serpentine Green in Peterborough from British Land.
Also included in the deal is a portfolio of six data centres and offices based in London, which are currently leased to Vodafone.
Realty entered the UK property market in 2019 when it entered into a joint partnership with British Land to take ownership of 12 Sainsbury’s supermarkets, in a deal worth £429m.
It now has a British portfolio worth over £2bn, having invested in a number of supermarkets, DIY stores, and retail parks.
Realty previously told its investors that it sees the UK as an attractive investment hotspot.