Leamington Shopping Park sold for £58m
Leamington Shopping Park has been sold for £58 million to an investment management firm.
CBRE IM has bought the Tachbrook Park Drive site - which is home to The Range, M&S, Halfords and more - from abrdn's UK Real Estate Fund.
The 159,000 sq ft development was acquired in a deal worth £57.55 million.
Property agent Knight Frank helped advise on the deal, with senior surveyors from the company sharing news of the sale on LinkedIn.
Daniel Serfontein, partner in Knight Frank's retail team, said in a statement published by TheBusinessDesk: "Retail parks are an increasingly attractive asset type, with prime locations like Leamington Spa able to deliver strong footfall owing to a diverse occupier mix.
"We are pleased to have advised CBRE Investment Management in adding this impressive asset to their portfolio."
Work to create two new drive-thru eateries at Leamington Shopping Park is currently well underway.
Meanwhile Pret a Manger was recently granted planning permission to open a new café there.
Businesses on the site remain open as usual.
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