Owners put a £300m+ retail park portfolio and another department store up for sale as investors increasingly see value beyond supermarkets.
Two of the bigger investments on the market this week are a portfolio of 16 UK retail parks put up for sale by UK businessman Mike Ashley’s Fraser Group, and a German department store.
Galeria Kaufhof in Munich looks likely to go for redevelopment for other uses, as do parts of a German shopping centre, just sold for a third of its price when it was built 25 years ago.
Also being sold off, according to Costar, is the Janus Henderson open-ended UK property fund managed by Nuveen.
Like some other UK open-ended retail funds, UK Property PAIF was hit by high redemptions from volatility first from Brexit and then from Covid. In 2018 the fund was worth £3 bn - the expected sale price now is said to be in the region of £1 bn.
Also seeing value - in London - was Singaporean buyer Ho Bee Land which has reached a price for newly-built and let City of London trophy tower ‘The Scalpel’ which reflects a 4% yield.
We also track the latest new financings, funds raising and other deals for which pricing has been disclosed.
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