The pension fund for Eton College employees has struck a deal with Abrdn to buy the Parkway shopping centre in Newbury, Berkshire.
The near-475,000 sq ft shopping centre is under offer for £16m. Tenants include Marks & Spencer, H&M and New Look, with Primark set to open there soon. Alongside retail and leisure space the centre also features 186 homes.
Standard Life Investments and Shearer Property Group committed to the then-£120m development in 2008.
Standard Life Investments and Aberdeen Asset Management agreed a merger in 2017.
The Eton College Employees (1972) Pension and Life Assurance Scheme is a defined benefit scheme for non-teaching staff who started employment at the college before November 2006. Its assets were £44m as of 2023.
Time Retail is acting for Abrdn; JLL is acting for the Eton pension fund.
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