Member Article

Real estate funds snap up Sunderland shopping park for £18.9 million

Sunderland’s Pallion Retail Park has been acquired by London-based real estate investors Europa Capital and Scottish investors Ediston Properties.

Former owners Scottish Widows Investment Partnership sold the 129,922 sq ft of park for £18.9 million, a deal that represents a 7.29% yield for the two investors.

Major retailers such as Matalan, B&M, and Iceland occupy units on the park, located near Pallion Metro station.

James Fortescue at Europa Capital said, “We are pleased to have acquired this asset which complements our growing regional portfolio.

“The investment provides an opportunity to improve the capital value through active asset management and extending the retail offering. This transaction demonstrates the commitment from Europa Capital to acquire further assets across the United Kingdom.”

Calum Bruce of Ediston added: “The purchase of Sunderland enhances the existing portfolio of ten assets and offers scope to further improve the Partnership’s performance.

“We are delighted to have the continued backing of Europa Capital and RBS in the execution of our strategy to buy well located assets with value add potential.”

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This was posted in Bdaily's Members' News section by Tom Keighley .