Redevco makes UK retail park debut with £520m Oxford Properties portfolio buy

Redevco is making its debut into the UK retail park market with the purchase of a £520m portfolio from Oxford Properties and M7 Real Estate. The purchase price reflects a yield of around 5.5%. The 16-asset portfolio includes retail parks in Bolton, Chelmsford, Gravesend, Great Yarmouth, Hailsham, Ipswich, Llanelli, Maidstone, Manchester, Poole, Queenborough, Staines, Tunbridge Wells and Weston-super-Mare. While the deal represents a debut for Redevco in the asset class in the UK, it has an established portfolio of retail parks across Europe with some €4.5bn (£3.7bn) invested mainly in Belgium and Germany. Redevco’s acquisition would be one of the biggest portfolio purchases of retail parks this year, along with British Land’s acquisition of seven retail parks from Brookfield in October for £441m. More than £1.4m of retail parks were traded in the first nine months of 2024, according to Savills, with end-of-year figures expected to top £2.5bn. Photo © Westend61/REX/Shutterstock