Capreon has sold two retail parks in Bristol and Fife to US-based Realty Income Corporation for £175m.
In Bristol, Capreon has sold Imperial Retail Park retail and leisure scheme, which is anchored by B&Q, The Range, M&S, Next and Boots, and in Kirkcaldy it has sold the 325,000 sq ft Fife Central Retail Park, whose tenants include B&Q, Sainsbury’s, M&S and Next.
Simon Robinson, partner at Shakespeare Martineau, which advised Capreon – part of the Noé Group – on the sale, said: “Having purchased the portfolio in 2018 and worked alongside the Noé Group for five years managing the assets, creating value and reinforcing the offering it was great to integrate further with the ever excellent Capreon team in selling the two parks.
“The deal, from inception to completion, was finalised in an impressive timeframe which exemplified the value of working collaboratively with our clients across teams, disciplines and with a clear focus.”
Barny Jenkins, general counsel from Capreon, added: “The Shakespeare Martineau team was excellent and demonstrated a high level of knowledge and experience in dealing with the transaction that completed in a tight timeframe.
“The team, led by Simon Robinson, has worked with Capreon on its acquisition of the retail parks and continued to advise on the management of the asset through to this recent sale. Shakespeare’s has always demonstrated the perfect combination of knowledge, insight, experience, dedication, patience, hard work and of course excellent legal advice.”
