Tuesday, 17 March 2015
Europa Capital announces the purchase of Pasteur Retail Park, Great Yarmouth (UK)
Europa Capital LLP, the fund manager of Europa Fund IV, is pleased to announce that it has entered into a joint venture partnership with Ediston Real Estate and has completed the purchase of Pasteur Retail Park, Great Yarmouth.
Pasteur Retail Park was purchased from a company managed by London & Capital for £20.6 mln (approx. €28.8 mln) and comprises 11,334 m² of retail warehouse space. Tenants include B&Q, Home Bargains, Pets at Home and Argos with one vacant unit.
The second joint venture between a Europa Capital managed fund and Ediston Real Estate has been established in order to acquire a portfolio of retail warehouse and office properties in the UK, with the intention of enhancing value through asset management initiatives. The Partnership is looking to invest an additional £95 mln of capital.
Robert Sim, Partner and Head of Northern Europe at Europa Capital, said, “Pasteur Retail Park is the first acquisition of the new Joint Venture with Ediston Real Estate. We are delighted with this quality asset which provides solid income and a number of asset management opportunities. Ediston are an experienced partner with whom we can create value through selective purchases and active asset management.”
Source: Europa Capital