Valad has bought a £23.7m set of three properties for its European Diversified Fund.
It bought Festival Leisure Park in Blackpool from Scottish Widows Investment Partnership for £12.5m, reflecting a net initial yield of 8.9%.
Sir Walter Raleigh House, St Helier, Jersey, was acquired from Palmer Capital for £6.45m, reflecting a net initial yield of 7.3%.
And Valad bought Mitre Retail Park in Wolverhampton for £4.75m, reflecting a net initial yield of 7.5%.
Valad Europe head of UK real estate Simon Marriott said: “We have now purchased 16 assets in the UK for VEDF. All of these investments are in strong regional locations and provide considerable asset management and re-positioning opportunities.
“We are already looking at introducing new food and beverage outlets at Festival Leisure Park and are exploring reversionary rent potential and lease regearing opportunities at the other two assets.”
Strutt & Parker acted for Valad Europe on Festival Leisure Park; Clay Street Property Consultants advised Valad Europe on Mitre Retail Park.
