Redevco has cemented its position in the retail property sector with the acquisition of a 16-property retail park portfolio from Oxford Properties for £518 million. This significant transaction highlights Redevco’s strategic ambition to become one of Europe’s largest retail park asset managers.
The portfolio, originally assembled by Oxford Properties via the M7 Real Estate specialist platform, encompasses a diverse mix of retail parks across the UK. The acquisition expands Redevco’s pan-European portfolio to nearly 200 retail park assets with a gross asset value of approximately €5 billion (~£4.1 billion). These holdings span key markets including Belgium, Germany, Spain, and the UK.
A Strategic Move for Redevco
Neil Slater, CEO of Redevco, praised the acquisition as a testament to the resilience and adaptability of retail parks. “This acquisition is a welcome addition to our pan-European platform, demonstrating our confidence in this sector. Retail parks offer cash-flow resilience and versatility, making them an attractive investment. We’re thrilled to bolster our holdings at a pivotal moment for the UK market.”
Oxford Properties Reflects on Success
James Boadle, Senior Vice President at Oxford Properties, highlighted the strategic timing of the sale. “This transaction reflects the value we have generated through our targeted move into the retail sector during the COVID-19 dislocation. Leveraging the expertise of our M7 Real Estate platform, we created an institutional-grade portfolio. With our business plan fulfilled, we are reallocating capital to explore new opportunities across the UK and Europe.”
A High-Quality Portfolio
The portfolio features prime retail destinations, including:
- Imperial Retail Park, Gravesend
- Chelmer Village Retail Park, Chelmsford
- Pompey Centre, Portsmouth
- West One Retail Park, Manchester
- Parc Pemberton, Llanelli
These locations reflect a strong focus on tenant quality and asset performance, ensuring continued value for investors.
A Future-Focused Perspective
David Ebbrell, CEO of M7 Real Estate, underscored the strategic foresight behind the acquisitions. “Our teams identified deep value within the retail warehouse sector, executing projects that enhanced income and asset value. We are proud to have crafted a portfolio poised for long-term success and look forward to reinvesting the proceeds into new opportunities.”
The off-market deal was facilitated by Glenlyon Real Estate, with advisory support from Staunton Whiteman, CSP, and McMullen Real Estate. Savills acted on behalf of Oxford Properties and M7 Real Estate.
This acquisition marks a transformative chapter for Redevco, strengthening its footprint in a resilient and dynamic sector.
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