Railpen, the manager of the UK’s rail transport pension schemes, has added a 50,474sqft retail park in the east of England to its portfolio.
The asset manager has invested an undisclosed sum to buy the fully-let Coral Park Trading Estate in Cambridge.
Alastair Dawson, senior asset manager at Railpen, said: “Coral Park Trading Estate is a strategic purchase that consolidates our already significant ownership in Cambridge, a market we view as an important, cross-sector, UK location for our portfolio.
“Cambridge possesses a number of unique positive attributes, including a thriving knowledge-led economy, a supportive local authority who share our commitment to sustainable development, and sustained occupier demand.”
Coral Park increases Railpen’s Cambridge portfolio, which includes the adjacent Cambridge Retail Park and The Beehive Centre.
In September last year, Railpen also acquired the Botanic Place office development to complement its Devonshire Gardens mixed-use development and the existing office ownerships – 21 Station Road and One The Square.
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