Church Commissioners for England acquires Wakefield retail park
The Church Commissioners for England has acquired Beck Retail Park in Wakefield, West Yorkshire, for an undisclosed fee.
Spanning 200,209 sq ft, the scheme comprises eight fully let retail units and is anchored by Sainsbury’s. Other tenants at the retail park include Home Bargains, Matalan, The Range, and B&M.
The acquisition further strengthens the Church Commissioners’ retail holdings, which are focused on supermarket-led, long income retail warehousing assets across the UK. The group acquired Beck Retail Park from Fiera Real Estate UK Limited, the European real estate arm of Fiera Capital Corporation.
Charlotte Moss, head of London at the Church Commissioners for England, said: “Beck Retail Park is a high-quality asset that complements our existing portfolio and offers attractive opportunities for long term value creation through active management.”
Anne-Marie Keane, fund manager at Fiera, added : “Beck Retail Park has been a successful investment for the Fund, benefiting from its dominant position within the Wakefield retail market and a strong occupier base. Following a period of focused asset management, we are delighted to have achieved a positive outcome for our investors and to transfer ownership to the Church Commissioners, a long-term investor well placed to build on the asset’s strong fundamentals.”
Colliers advised the Church Commissioners on the acquisition and has been appointed as the new property manager for the asset.