UK pension manager Railpen has extended its Cambridge footprint with the purchase of the Coral Park Trading Estate.
Comprising of nine units totaling 4,689 m2, the property on Henley Road is fully let to tenants such as Halfords, Wolseley, and Royal Mail.
Railpen already owns the adjacent Cambridge Retail Park and The Beehive Centre in Cambridge.
In September 2022, the railways pension manager acquired the 94,183 m2 Botanic Place prime office development, complementing the Devonshire Gardens mixed-use development and the 21 Station Road and One The Square offices properties.
Alastair Dawson, senior asset manager at Railpen, said: ‘Coral Park Trading Estate is a strategic purchase that consolidates our already significant ownership in Cambridge, a market we view as an important, cross-sector, UK location for our portfolio. Cambridge possesses a number of unique positive attributes, including a thriving knowledge-led economy, a supportive local authority who share our commitment to sustainable development, and sustained occupier demand.’
Real estate adviser DTRE represented the buyer on the deal.
Railpen holds £37 bn (€42 bn) in assets under management.
