LaSalle Investment Management has acquired retail units in Brighton from Aviva Investors on behalf of the specialist investment fund managed by LaSalle KAG for €13.7m.
The properties are located on 32-38 North Street and 40-44 Ship Street and current tenants include TK Maxx, Multiyork and JD Sports Fashion.
The LaSalle KAG provides special property funds under German investment law and has a total investment volume target of €600m. The funds invest in office and retail properties in prime locations with long leases and focus on Germany, France, the Netherlands, Scandinavia and the UK.
Sophie Simmonds from LaSalle Investment Management said: “The acquisition reflects the style of high quality assets we are continuing to purchase for the LaSalle KAG. The asset provides us a good length of income to quality covenants as well as potential for growth.”
