Development Securities has sold a portfolio of four retail assets to UK investment house Kames Capital for £21 mln (€25 mln).

Development Securities has sold a portfolio of four retail assets to UK investment house Kames Capital for £21 mln (€25 mln).

The assets are located in Kent, Cheshire and Wales and are part of Dev Sec’s efforts to, ‘increase our focus on larger foodstore-anchored retail schemes,’ said director Matthew Weiner.

The largest site, in Bexleyheath, Kent, ‘was subject to a lease restructuring with its largest tenant, Primark, in 2012, creating an income stream attractive to a long-term investor,’ he added.

The portfolio is described by Dev Sec as mature, having had lease regears, refurbishments and some redevelopment.

Kames is a UK investment house, managing around €64 bn of assets.