Aberdeen Asset Management is looking to offload nearly £450m of retail assets.
The firm’s Retail Parks Trust is accelerating plans to wind down ahead of its expiry next year by selling its five remaining assets, valued at around £250m.
The properties include Hathaway retail park in Wiltshire, Roaring Meg in Hertfordshire and Brotherhood in East Anglia.
M&G Real Estate has agreed to buy the 210,000 sq ft Newcastle Shopping Park for £50m – a 5.75% yield.
The 150,000 sq ft Brislington retail park in Somerset is also up for sale for around £50m.
At the same time, Aberdeen has appointed agents to sell the 1.9m sq ft Amber portfolio for £152m.
Amber’s 29 properties are mainly shops and retail warehouses, plus some office and industrial assets.
The portfolio has a vacancy rate of 4.48%, with a rent roll of £13.2m and a weighted average unexpired lease term of 4.5 years. Tenants include Sports Direct, B&G and Travis Perkins.
In January, Aberdeen sold RPT’s 120,000 sq ft Tower Retail Park in Crayford, south-east London, to Henderson Property Trust for £66.6m – a 5.15% yield.
Knight Frank is marketing Amber; Morgan Williams advised on Crayford; Harvey Spack Field is marketing Brislington; Cushman & Wakefield advised on Newcastle.
