31 August 2016, London: Aprirose, the real estate investment company, has acquired the Greyhound Retail Park in Chester for £36 million, their fifth transaction since the EU Referendum.
The Greyhound Retail Park is a 121,103 sq ft retail centre, which is fully let to leading retailers including Next, Boots, Dunelm and Oak Furnitureland.
The acquisition of the Greyhound retail park is the second recent deal Aprirose has conducted with Standard Life Investments, following the purchase of The Leonardo Hotel in Heathrow for £25.5 million.
Gary Jones, Chief Operating Officer at Aprirose, said: “The Greyhound Retail Park is a great asset to add to our expanding portfolio. It offers a variety of prime brands and the potential to further develop the asset with a food offer. This is our fifth transaction since the EU-referendum, as we continue to look for investment opportunities across all asset classes in a time of uncertainty for the property market.
“The Greyhound Retail Park is a prime investment opportunity which further fits with our strategy of buying high quality assets to add to our diverse £1 billion portfolio. It also marks the second successful deal in our relationship with Standard Life Investments.”
The Greyhound Retail Park is situated at the entrance of one of the largest out-of-town retail clusters in the UK. It is located adjacent to the Chester Retail Park, owned by Consolidated Property, with retailers including: TK Maxx, Sports Direct and B&M.
Chester draws eight million visitors a year to the city and 31 million regionally and has strong transport links.
Aprirose was advised by Mason Partners and Standard Life Investments was advised by Montagu Evans.