Investment group acquires Sevenoaks retail asset
Private real estate investment group Compagnie Du Parc (CdP) has acquired the Bligh’s Meadow retail asset in Sevenoaks in partnership with RevCap.
The scheme extends to 77,000 sq ft and is home to tenants including Gail’s, Whistles, Costa, Cook, and Holland & Barrett.
The acquisition represents a shift in strategy for CdP, which has traditionally focused on industrial assets in Greater London. The group is now looking to target uncovered shopping centres and high street blocks in affluent towns in the South East.
Jonathan Coenca, managing director of CdP UK, said: “It was important for us to be highly selective with our first retail acquisition, and Bligh’s Meadow represents exactly the type of asset we have conviction in – a dominant, open air scheme in an affluent town with strong fundamentals and clear long-term relevance.
“This transaction demonstrates our commitment to the UK market and our ability to deploy capital in different ways, including alongside joint-venture partners such as RevCap. We remain very active in the light industrial market and continue to look for further opportunities across both sectors.”
Knight Frank, Moorhall Capital and Kingsley Napley advised CdP and RevCap. JLL advised the vendor. Estama has been appointed as to asset manage the scheme.
Ross Campbell MRICS, director and head of asset management at Estama, added: “Blighs Meadow has the fundamentals that retail investors look for: strong demographics, an established brand presence and a highly engaged local audience. Our focus now is to unlock the next stage of value by elevating its proposition and positioning the centre as a genuine destination.”