Compagnie du Parc (CdP) has partnered with RevCap to purchase the Bligh’s Meadow retail scheme in the heart of Sevenoaks town centre.
The scheme, which was marketed for £26.7m, comprises 77,000 sq ft of retail space and is home to the likes of Gails, Whistles, Costa, Cook and Holland & Barrett.
This acquisition represents the first step in a new retail strategy for CdP, which sits alongside its traditional focus on Greater London industrial assets. The new strategy will target uncovered shopping centres and substantial high street blocks in affluent, supply constrained South East towns.
Jonathan Coenca, CdP UK managing director, 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 on the purchase. JLL advised the vendor. Estama has been appointed as asset manager of the scheme.
