Schroder UK Real Estate Fund has invested £153m ($240.1m) in three assets in west London.
The investment manager bought the Kings Mall shopping centre in Hammersmith, along with an adjacent office property and car park.
Matterhorn Palos Partnership, a joint venture between investors Brett Palos and Anthony Lyons and Simon Conway’s Matterhorn Capital, sold the assets four years after their £115m purchase.
The 340,000 sq ft Kings Mall centre, let to 40 tenants, has been refurbished.
The One Lyric Square office asset is 100% let.
James Lass, fund manager at Schroder UK Real Estate Fund, said the manager was looking to capitalise on strong growth throughout London markets outside traditional ‘core’ areas.
The company, he said, plans to make further strategic acquisitions where it sees potential to add value through asset management.
“This asset fits that brief and enjoys strong connectivity with attractive amenity for occupiers,” Lass said.
“All the component parts of this deal include highly reversionary rents and provide us with significant opportunity for adding income and value.”