Housebuilder snaps up component of Kew Retail Park in £41m deal

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art of Kew Retail Park has been bought to a builder in a £41 million deal it has emerged, in a transfer likely to sign new households will be coming.

FTSE 250 organization United kingdom Professional Assets Reit, which invests in offices and warehouses and has been minimizing its exposure to some retail serious estate in current yrs, mentioned the offer is with a ‘UK primary housebuilder’.

It did not say the identify of the purchaser, but property news website Respond Information claimed that Berkeley Team is the customer. Berkeley has been contacted for comment.

Of the total 10 acre park, the company owned 4.7 acres comprising some 61,765 sq. toes of room across 5 attributes which are absolutely permit on limited leases to a range of tenants together with Boots, Sports Direct, Hole, Up coming and TK Maxx.

Will Fulton at Aberdeen Typical Investments,  which manages and advises United kingdom Professional Assets Reit, stated:  “The transaction permits us to acquire gain of sturdy desire for household development chances and generates further capital for us to invest into cash flow accretive attributes.”

The business will obtain a thing to consider of £41 million for the asset, marginally beneath the December 2020 book price.