Hunter REIM, acting behalf of UK Retail Unit Trust, has completed four high street acquisitions across the UK for a total value of €20.5m (£18m). The latest round of purchases takes total spending in the closed-end vehicle, which focuses on investing in underutilised retail assets in thriving town centres, to over €102.4m (£90m).
In Liverpool, Hunter has acquired 5-9 Parker Street property for €5.5m (£4.85m). The asset is situated in Liverpool’s popular L1 shopping district. The tenants include Ernest Jones, Paul’s Hair World and a temporary mobile phone shop operator. The company has also purchased a freehold of 1-3 Parker Street, let to Schuh and Co-Op Bank, for €1.7m (£1.5) from Liverpool Council.
Finally, in Marlow, Hunter has completed a deal for 1-3 Market Place for €5.1m (£4.5m). The property is let to Steamer Trading.
A further round of acquisitions is anticipated over the next year, whilst Hunter has also announced its intention to capital raise for a second fund, which will also focus on investment in high street assets across the UK.
Andrew Moffat, Fund Manager at Hunter REIM, commented: "This latest round of acquisitions, following the refinancing of the fund in October, is a testament to our commitment to the UK high street and our ongoing belief that it offers superb opportunities in particular pockets around the UK. Central to unlocking value discovery on the high street is the creation of a strong identity, thriving leisure space and a vibrant and food and beverage offer, and these acquisitions all clearly meet these criteria. We look forward to announcing the final deals for the fund shortly, before turning our attention to capital raising for a second high-street focused fund.”