Redevco to acquire £500m+ retail park portfolio
6th December 2024 | Jack Oliver
Redevco is set to acquire a portfolio of 16 retail parks from Oxford Properties and M7 Real Estate in a deal worth over £520m.
Green Street News reports that Amsterdam-based real estate manager Redevco has exchanged contracts on 16 assets. The deal is expected to be completed as early as next week.
The assets were accumulated via M7’s Box+ III vehicle, of which Oxford Properties was the equity backer. The vehicle has a weighting of 90% towards Greater London, the South East, and the South West, according to Green Street News.
The portfolio comprises:
- Euro Retail Park, Ipswich
- Hailsham Retail Park, Hailsham
- Weston Retail Park, Weston-super-Mare
- Imperial Retail Park, Gravesend
- St Peters Wharf Retail Park, Maidstone
- Pompey Centre, Portsmouth
- Chelmer Village Retail Park, Chelmsford
- Bolton Gate, Bolton
- West One Retail Park, Manchester
- B&M and Hobbycraft, Tunbridge Wells
- Gapton Hall, Great Yarmouth
- Halfords and Homebase, Staines
- Homebase, Colchester
- Neatscourt Retail Park, Queensborough
- Poole Retail Park, Poole
- Parc Pemberton Retail Park, Llanelli
The purchase price represents a net initial of around 5.5%-6%, sources told Green Street News.
Savills represented Oxford Properties.
Redevco declined to comment.