Tikehau acquires UK shopping centre for value-add fund

Tikehau Capital has acquired a shopping centre in the south-east of England on behalf of its value-add real estate fund.

The manager said its Real Estate Value-Added fund has bought The Walnuts Shopping Centre in Orpington for an undisclosed sum.

In January 2016, Rockspring Property Investment Managers, now part of Patrizia, paid £44m (€51m) to buy the shopping centre from a private Kuwaiti investor and Miller Developments.

Tikehau said The Walnuts provides a site totalling over 22,500sqm, which includes a shopping centre of 13,700sqm with 58 stores, alongside an Odeon cinema and an 83-room Premier-Inn hotel.

UK-based urban regeneration specialist Areli Real Estate will work alongside Tikehau as an operating partner, the manager said.

The latest deal is the fund’s second acquisition in the UK following the acquisition of the Nicholsons shopping centre in Maidenhead earlier this year.

It is the sixth investment for the pan-European real estate value-added fund, which was launched in 2018 to invests across all property types.

Tikehau Capital’s head of real estate Frédéric Jariel said: “This second real estate deal in the UK demonstrates Tikehau Capital’s strategy to strengthen the development of its activities in the country.

“This is an important step in the deployment of Tikehau Capital’s real estate value-added fund across Europe.”

Areli partner, Andrea Vanni, said: “Orpington is a fantastic town with a great high street and superb transport connections.

”The Walnuts is right at the heart and an incredibly exciting opportunity to substantially increase both vibrancy and vitality.”

Related images

  • The Walnuts Shopping Centre

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