Henderson Global Investors' 900 million pan-European retail property fund, Herald has let the final two units in Phase A at Serravalle Retail Warehouse Park, Italy. Bormioli Rocco, an upmarket glassware retailer has taken a 400 m² unit on a seven year lease and Kiabi, the French fashion store has taken 1,583 m² on a seven year lease.
Following these lettings, Phase A is now fully let with tenants including Decathlon (sporting goods retailer), DondiSalotti (furniture retailer) and Sasch, one of Italy's top men's and women's wear fashion brands. Space is now being marketed at Phase B which comprises six units and is anchored by a Bricoself DIY store and Jysk, the bed, bath and home retailer.
The 27,650 m² retail park is situated under an hour's travel from both Turin and Milan, Italy's capital of fashion, and lies adjacent to the Serravalle Outlet Mall which is owned by Henderson's European Outlet Mall Fund.
Henderson was advised by Jones Lang LaSalle and Coimpredil SpA.
Established in late 2005, Herald's primary focus is on acquiring prime retail park assets in Europe and the fund currently has around 150 million of funds available to invest in future opportunities. Herald recently also announced its return to the UK market with the acquisition of Stanley Green Retail Park in Manchester
Source: FD
