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Redevco acquires £518 million UK retail park portfolio
Tuesday, 10 December 2024
Zug, Switzerland, 10 December 2024 – COFRA Holding AG (“COFRA”) is pleased to announce that Redevco, one of Europe’s largest privately owned real estate managers, has completed the acquisition of a portfolio of 16 retail parks across the UK for £518 million.
The transaction marks a significant milestone for Redevco in building one of the largest retail park asset management platforms in Europe. Redevco, part of COFRA, now manages approximately €5 billion Gross Asset Value across almost 200 retail park assets, predominantly in Germany, Belgium, Spain and the UK.
Neil Slater, CEO of Redevco, commented: "This acquisition is a welcome addition to our pan-European platform, demonstrating our confidence in this sector. Retail parks combine cash-flow resilience and adaptability, making them a compelling investment. Having focused on this sector internationally for years, we’re delighted to supplement our holdings at a fascinating time for the UK market."
The portfolio, acquired from Oxford Properties, includes approximately 195,000 square metres of Net Internal Area and is anchored by a diversified mix of tenants, including well-established brands in the food, DIY and discount sectors.
The 16 retail park assets are in core urban centres across the UK, with a strong concentration in South and around Southeast England.
The acquisition is a strategic step in Redevco’s growth ambitions. With 25 years of experience as a pan-European retail park owner and asset manager, Redevco has a proven track record of enhancing value within this resilient asset class.