Bouwfonds IM buys three UK car parks for €92m

Dutch investment manager Bouwfonds IM has bought three car parks in UK regional cities for a total outlay of €92 mln.

The properties in Manchester, Cardiff and Brighton were acquired for Bouwfonds’ European Real Estate Parking Fund II, which was launched four years ago and currently has €300 mln of assets under management in the Netherlands, Ireland, the UK, Norway, France and Germany.

‘We invest in first-class and sustainable car parks located in European city centres with high growth,’ said Bart Pierik, managing director for parking at Bouwfonds. ‘Cities are chosen based on local real estate market conditions as well as long-term socio-economic attractiveness.’