M7 Real Estate has sold a portfolio of three U.K. retail warehouse assets on behalf of M7 Box+ II to British Land for more than £45 million (€52 million/$58 million).
St David’s Retail Park in Bangor, Queens Drive Retail Park in Kilmarnock, and Enham Arch Retail Park in Andover, comprise more than 270,000 square feet of total retail warehouse space with strong occupancy and a blended weighted average lease term (WALT) of more than five years.
M7 acquired the assets in 2020 on behalf of M7 Box+ II, a fund focused on U.K. retail warehouses with potential for future rental and capital growth. Since the acquisition M7 has successfully reworked several leases with key tenants and leased vacancy, improving the income profile and WALT.
M7 is an experienced manager of retail warehouse space across the United Kingdom, with a current portfolio under management totaling more than 2 million square feet. Following the sale, four assets, which are placed to benefit from
