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Sign in Sign up for a FREE subscriptionKorean investor enters U.K. retail sector
South Korea–based Hana Financial Investments has acquired the Gallagher Shopping Park in the West Midlands, England, from KKR and Quadrant Estates for £175 million ($230 million).
The acquisition is considered the largest single-asset sale in the U.K. retail warehouse market this year. And it is the first time a Korean investor has entered the U.K. retail sector.
Hana Financial acquired the shopping park via a real estate fund managed by Korea Asset Investment Management.
Tenants of the 195,000-square-foot shopping park include Next and Currys, TJ Maxx, Outfit, Mamas and Papas, Boots, Furniture Village, SCS, Harveys, M&S Simply Food, Oak Furniture Land, Sofology, Tapi, Costa, Burger King and Pizza Hut.
