UK and CEE-focused asset manager Hunter REIM has purchased four high street retail assets in the UK for €20.5 mln on behalf of UK Retail Unit Trust.
'This latest round of acquisitions, following the refinancing of the fund in October, is a testament to our commitment to the UK high street and our ongoing belief that it offers superb opportunities in particular pockets around the UK,' said Andrew Moffat, fund manager at Hunter REIM.
'Central to unlocking value discovery on the high street is the creation of a strong identity, thriving leisure space and a vibrant food and beverage offer,' he added. 'We look forward to announcing the final deals for the fund shortly, before turning our attention to capital raising for a second high-street focused fund.'
The latest round of purchases takes total spending in the closed-end vehicle, which focuses on investing in underutilised retail assets in thriving town centres, to over €102.4 mln.
In Crawley, West Sussex, the company has purchased 24–26 The Martlets for €9.9 mln. The asset is let to a tenant line-up including Pret a Manger, Schuh, Carphone Warehouse and Lush.
In Liverpool, Hunter has acquired 5-9 Parker Street property for €5.5 mln. The asset is situated in Liverpool’s L1 shopping district, and tenants include Ernest Jones, Paul’s Hair World and a temporary mobile phone shop operator. The company has also purchased a freehold of 1-3 Parker Street, let to Schuh and Co-Op Bank, for €1.7 mln from Liverpool Council.
In Marlow, Hunter has completed a deal for 1-3 Market Place for €5.1 mln. The property is let to Steamer Trading.
A further round of acquisitions is anticipated over the next year, whilst Hunter has also announced its intention to capital raise for a second fund, which will also focus on investment in high street assets across the UK.
Sheridan acted for Hunter in Liverpool, Reeder Ness and Jackson Criss advised on Marlow, and TW Kiel advised on Crawley.
