UK Commercial Property REIT (UKCM), which is managed and advised by Aberdeen Standard Investments, has acquired Trafford Retail Park from Peell L&P for £33 million.
Constructed in 1999, the park comprises approximately 143,000 sq ft of retail warehouse accommodation across fourteen units and is currently home to Dunelm, B&M, TK Maxx and Home Bargains. It is also home to Nando’s, Pizza Hut, McDonalds, and the recently completed Five Guys letting.
Kerri Hunter, fund manager at UKCM, said: “This deal presents us with an opportunity to strengthen our portfolio and enhance income through the acquisition of a well-located retail park with a high quality tenant base and impressive footfall in one of the UK’s premier shopping and leisure destinations.
“While some parts of the retail sector have struggled in recent years, Trafford Retail Park is primarily let to discount focused and convenience led retailers, which have proven resilient and continue to perform well.
“As a diversified REIT, we benefit from the ability to look for assets across a range of sectors that offer accretive returns, enabling us to deliver value and income to our investors.”