Railpen, one of the largest pension managers in the United Kingdom, has acquired Coral Park Trading Estate in Cambridge, England, for an undisclosed amount.
Coral Park consists of nine units totaling 50,474 square feet and is fully leased to a tenant roster that includes Halfords, Wolseley and Royal Mail.
The acquisition increases Railpen’s portfolio in Cambridge, which includes the adjacent Cambridge Retail Park and The Beehive Centre.
“Coral Park Trading Estate is a strategic purchase that consolidates our already significant ownership in Cambridge, a market we view as an important, cross-sector, U.K. location for our portfolio,” said Alastair Dawson, senior asset manager at Railpen. “Cambridge possesses a number of unique positive attributes, including a thriving knowledge-led economy, a supportive local authority who share our commitment to sustainable development and sustained occupier demand.”
