M&G offloads Regent Retail Park for £16m

19 October 2020 10:15 Dan Whelan Comments ()

Real estate private equity firm Henley Investments has bought the 116,000 sq ft retail park from property investment company M&G Real Estate.

Regent Retail Park, off Regent Road in Salford, is made up of 11 units. Henley acquired the asset for £16m.

Occupiers include pharmacy Boots, discount supermarket chain Home Bargains, sports retailer Sports Direct and pet shop Pets at Home. Fashion retailer TK Maxx is the site’s anchor tenant, leasing a 22,500 sq ft unit.

Ian Rickwood, chief executive of Henley Investments, said: “This year will go down as a remarkable year of abnormality as lives and businesses have been turned upside down by Covid.

“Retail real estate is at the centre of a secular reset, and our plans for Regent Retail Park provide options both for retail recovery and asset enhancement. We continue to look for well-located assets to acquire throughout the UK and Western Europe.”

Henley and was advised by HampsonWall and Jones Day.

Edgerley Simpson Howe is the letting agent for Regent Retail Park.