UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has acquired a purpose-built retail unit in Harlow, Essex, U.K.
UBS-AM REPM purchased the site, which was originally designed and constructed as a specialist DIY retail store, with an agreed, long-term lease in place to leading DIY retailer Wickes, providing stable income and inflation-protected returns.
The acquired site, which is fully owned by UBS-AM REPM, comprises a total of 52,094 square feet and is situated in a prime, established retail park within Harlow, an affluent town about 30 miles from Central London. The unit has 168 car parking spaces, allowing for easy access for the 125,000 residents within the 15-minute catchment area via the local A414 and M11 roads.
“This transaction represents an exciting investment for the UBS Long Income UK Property Fund. The acquisition of the purpose-built site is underpinned by a 17-year inflation-linked lease to Wickes, a leading omni-channel re
