Hines has acquired Junction 27 retail park in Birstall, near Leeds, from Tritax Big Box REIT on behalf of Hines Global Income Trust (HGIT) for £54.6m.
The 131,000 sq ft retail park, which comprises 13 units, is fully let to tenants including Currys and ScS. The acquisition marks HGIT’s entry into the UK retail market.
Alfonso Munk, president and CIO of HGIT, said: “Real estate has remained resilient, offering reliable cash flow and strategic openings to leverage evolving market dynamics. Good buying opportunities are expected to persist, but not all retail is created equal. Having local expertise and being selective are essential, so assets in key locations and specific retail subtypes, such as Junction 27, are particularly appealing.”
