FINANCE: Resolution Property is planning an £800m spending spree on retail property in the UK and Europe after closing its fourth fund.
Backed by US, Middle Eastern and European investors, the fund has completed around £300m of acquisitions already, after it began raising last year.
The fund has a two-year investment period during which it will target mixed-use city centre projects, shopping centres and outlet centres in major cities across the UK, Netherlands, Germany and Poland.
Investments to date include Designer Outlet Soltau near Hamburg (pictured), Germany, the Department W media centre and residential re-development opportunity in Whitechapel, the Greater Northern Warehouse retail, leisure and entertainment centre in Manchester and Poznan city centre in Poland.
Robert Laurence, chief executive of Resolution Property, said: “As we progress the fund’s investment programme, we will be acquiring stock selectively from a full and interesting pipeline of opportunities.”
