Cheshire Oaks View 07 Rev A
CGI of the Cheshire Oaks extension in 2018. Credit: via planning documents

Nuveen sells Cheshire Oaks

Julia Hatmaker

LaSalle Investment Management has purchased designer outlets in Ellesmere Port and Swindon for £600m, according to reports.

The sale of Cheshire Oaks and Swindon Designer Outlet represents a yield of 6%. Morgan Williams advised Nuveen Real Estate on the deal.

Nuveen had initially purchased the 350,000 sq ft Cheshire Oaks in 2008 as part of a £365m deal for three shopping centres. That deal also included the Swindon outlet. In 2018, Cheshire Oaks underwent a £23.8m, 25,000 sq ft extension.

McArthurGlen Group is expected to continue managing Cheshire Oaks, which has 144 units and boasts Armani, Burberry, Superdry, Hugo Boss and Marks & Spencer as key tenants.

Cheshire Oaks manager Kenny Murray spoke at Place North West‘s Future of Retail conference in 2021, during which he remarked that people were more eager than ever to experience retail after the end of Covid-19 lockdowns.

LaSalle, Nuveen and Morgan Williams have been contacted for comment.

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