Acquisition of castle vale retail park
Retail & Leisure, Agency, Investment, Lease advisory
This project was worked on by the following people, working in partnership from across our business…
- Ed George Partner, Commercial & Agency, Commercial & Agency - Retail & Leisure
- Henry Elwess Partner, Commercial & Agency, Commercial & Agency - Retail & Leisure
- Robert Lawson Partner, Commercial & Agency, Commercial & Agency - Retail & Leisure
- Chris Keen Partner, Commercial & Agency, Commercial & Agency - Retail & Leisure
We completed on the acquisition of Castle Vale Retail Park, Birmingham on behalf of Realty Income, for £63,000,000. This property comprises a Sainsbury’s supermarket, retail warehouse terrace (including B&M, TK Maxx, DSG, ScS and Smyths Toys) and a local retail parade. Including our acquisition of B&Q, Castle Vale last year for the same client, we have delivered a combined freehold land holding of over 23 acres within this major strategic urban location.
The deal was secured off market and was agreed at an excellent price in the context of strong competition in both the foodstore and retail park sectors. This was the first significant retail park acquisition by Realty as they widen their retail investment remit to include non-food / non-DIY.
This instruction drew on expertise from across different departments including investment, lease advisory, agency and planning.