News / hartcliffe
Retail park sold in multi-million pound deal
A retail park in south Bristol has been sold to a new owner in a multi-million pound deal.
The US-based Reality Income Corporation has bought Imperial Retail Park in Hartcliffe, alongside the Fife Central Retail Park in Kirkcaldy, Scotland, for £175m.
The real estate investment trust has bought the parks from Capreon, part of the Noé Group, with the sale led by law firm Shakespeare Martineau.
Shakespeare Martineau partner Simon Robinson, who led on the deal, 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.”
Imperial Retail Park is a 350,000 sq ft retail and leisure scheme anchored by B&Q, The Range, M&S, Next and Boots.
Main photo: Google
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