Canada’s Alberta Investment Management Corporation (AIMCo) has invested in a 7.8-acre UK retail park through a partnership with Oxenwood Real1 Estate.
Oxenwood said the joint venture has bought the Hayes Bridge Retail Park in west London for £50m (€58.2m) from M7 Real Estate’s Box Plus 2 fund.
The retail park on Uxbridge Road comprises nine units, totalling 104,820sqft. Two of the units are vacant.
Jeremy Bishop, co-founder of Oxenwood Real Estate, said: “The transaction represents a rare opportunity to acquire a sizeable asset in west London complementing our strategy to assemble a portfolio of well-located, urban assets with medium-term value add and redevelopment potential in our joint venture with AIMCo.”
Rupert Wingfield, AIMCo’s head of European real estate, said: “We are very pleased to have acquired Hayes Bridge Retail Park. The location benefits from excellent road connectivity given its proximity to both the M4 and M40 motorways, and is surrounded by densely populated, affluent London boroughs.”
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