HIG Capital has completed the acquisition of the Grosvenor shopping centre in the western English city of Chester for £65 mln (€89 mln).

HIG Capital has completed the acquisition of the Grosvenor shopping centre in the western English city of Chester for £65 mln (€89 mln).

The purchase represents the US-based investor's 16th real estate investment in Europe since the start of 2013.

Riccardo Dallolio, managing director at HIG in London, commented: 'This investment demonstrates our ability to secure value-added assets in the UK market. In this respect, our speed of execution and flexible approach gave us a competitive edge. We will continue to acquire assets where we see an opportunity to add value by enhancing the income and quality of the asset.'

The vendors were US asset manager Carlyle Group and London-based Bride Hall Estates.