Delancey, Columbia buys stake in UK’s largest shopping parks

Delancey, together with Columbia Threadneedle Investments, has acquired abrdn’s 50-percent stake in Castlepoint Shopping Park in Bournemouth, England, on behalf of client funds.

Following the transaction, and combined with existing stakes, the park is now owned 50-50 in a joint venture that will take control of the asset management, a role previously held by abrdn.

Built in 2003, Castlepoint is one of the United Kingdom’s largest shopping parks, with 63.500 square meters (678,126 square feet) of retail space and more than 3,000 parking spaces on a 36-acre site. Anchor tenants include Marks & Spencer, Sainsbury’s, Asda, B&Q and Next, alongside 31 more units.