ICG Real Estate (ICGRE) has acquired a portfolio of retail parks located across Greater London and the South East from M7 for £136.5m.
The 360,000 sq ft portfolio, which comprises Priory Retail Park in Colliers Wood, Great Lodge Retail Park in Tunbridge Wells and Arches Retail Park in Watford, was acquired on behalf of ICGRE’s Strategic Real Estate II Fund at what was described as an “attractive” entry yield.
Chris Nichols, managing director at ICG Real Estate, said: “This transaction underscores our ability to acquire prime portfolios at attractive pricing. We see the retail park space as a compelling opportunity, benefitting from favourable real estate, occupational and consumer fundamentals. This particular portfolio offers strong asset management potential, which we look forward to realising throughout the hold period – to generate meaningful value for the benefit of our investors.”
