CBRE Investment Management (IM) has acquired Leamington Shopping Park from abrdn UK Real Estate Fund for £57.55m.
The park comprises just over 159,000 sq ft of space and is let to retailers including M&S, TK Maxx, The Range, Boots and Next, with an average unexpired lease term of 8.6 years.
The shopping park is located in the centre of Leamington, just off the A452 Europa Way.
Daniel Serfontein, partner in Knight Frank’s retail team, which advised CBRE IM On the deal, said: “Retail parks are an increasingly attractive asset type, with prime locations like Leamington Spa able to deliver strong footfall owing to a diverse occupier mix. We are pleased to have advised CBRE Investment Management in adding this impressive asset to their portfolio.”
Savills acted on behalf of abrdn UK Real Estate Fund.
