Tikehau Capital and Rob Tincknell’s Areli Real Estate have bought the Walnuts Shopping Centre in Orpington.
The shopping centre is thought to have been sold for around £31m, representing a yield of roughly 8%.
It is the second purchase from Tikehau Capital’s €300m (£260m) Real Estate Value-Added fund, in collaboration with Areli Real Estate as operating partner. The duo bought the Nicholsons Shopping Centre in Maidenhead out of receivership earlier this year.
Frédéric Jariel, head of real estate at Tikehau Capital, said: “This is an important step in the deployment of Tikehau Capital’s Real Estate Value-Added fund across Europe.”
Andrea Vanni, partner at Areli, said: “Orpington is a fantastic town with a great high street and superb transport connections. The Walnuts is right at the heart and an incredibly exciting opportunity to substantially increase both vibrancy and vitality.”
Tikehau said the Walnuts development extended to more than 240,000 sq ft, including the 140,000 sq ft shopping centre, which has 58 stores. There is also an Odeon cinema and an 83-room Premier Inn hotel.
Knight Frank advised Areli on the deal, while KLM Retail represented vendor Patrizia Immobilien.
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