Deutsche Asset Management has acquired Palace Gardens Shopping Center in Enfield, Greater London, on behalf of one of its German open-ended real estate funds, from the Standard Life Investments U.K. Shopping Centre Trust in an off-market transaction.
“This is a great investment and fits in with our strategy to target integrated urban retail in major population centers where rents are affordable. Moreover, Enfield Palace Gardens presents a number of asset management initiatives which support the investment rationale,” said Jessica Hardman, head of U.K. hub at Deutsche AM.
Comprising more than 220,000 square feet, the convenience-led center includes tenants such as Marks & Spencer, Waitrose and Boots. Palace Gardens benefits from high occupancy and when coupled with Palace Exchange provides the main retail destination within the town center. Positioned on the northern edge of Greater London, Enfield is well connected to London via major road networks and public
