Focus Estate Fund, a fund specializing in non-prime retail properties in Central Europe, announced the acquisition of Island Green Retail Park in Wrexham, United Kingdom. The price of the asset has not been disclosed
The tenant mix of Green Retail Park comprises well-known brands and chains such as Next, Smyths Toys, Poundland, Iceland Food and others. The total Gross Internal Floor Area (GIA) is 103,305 square feet (9,597 sq m).
Cushman & Wakefield, with Griff Lewis and Marcus Wood serving as Head of Retail & Leisure Investment, represented the buyer, while Jonathan Phillips from Metis Real Estate Advisors acted as the seller's agent on behalf of clients of Nuveen Real Estate.
"This is a significant moment for us as a fund, as we venture into the UK market, recognized as a global leader in commercial real estate. We welcome the opportunity to engage with this dynamic market, its unique approach, and standards. We are also proud that this deal was made possible through the professionalism of our partners and deal agents, especially Cushman & Wakefield. They have demonstrated a high level of expertise and have been invaluable partners in this important stage of our development. Island Green Retail Park is a prime asset with tremendous potential, and we are committed to building upon its success. We are excited to embark on this journey and are actively seeking new tenants to join our vibrant retail community. To prospective tenants, we offer a prime location, a diverse consumer base, and a dedicated management team ready to support your business growth. To our valued customers, we pledge to continue providing an exceptional shopping experience, with a diverse range of retailers and convenient amenities. We look forward to continuing to expand our portfolio not only in the UK but also in other key markets such as Italy, Spain, Czech Republic, and beyond”, said Maxim Shkolnick, General Partner at Focus Estate Fund.
”Identifying new overseas investment capital, such as Focus Estate Fund, and then guiding them through the nuances of the UK investment market has always been a strength of Cushman & Wakefield’s EMEA retail investment team. Focus Estate Fund is looking to make further investments into UK retail property, with one asset under offer and others under consideration”, said Marcus Wood, Head of Retail & Leisure Investment at Cushman & Wakefield.
In January, Focus Estate Fund concluded the acquisition of Galeria Sandecja shopping centre in Nowy Sącz, Poland, adding 182,986 square feet to its portfolio. This transaction represents the fund's seventh investment in the Polish retail sector. With this latest addition, the total leasable area (GIA) in Poland has now exceeded 1,076,390 square feet (100,000 sqm).
