Retail – investors on shopping spree left, right and centre
Retailers are now tidying up after the peak Christmas/New Year shopping season and clearance sales but retail property buyers are still out in force across Europe. A number of High Street shop unit, retail park and shopping centre acquisitions were announced in the first weeks of January, including:
• Cornerstone Real Estate Advisers Europe has acquired the 6,423-square-metre Åhléns department store building in Malmö, Sweden, for SEK 357 million (€38.13 million). The three-storey building, located on Södergatan, Malmö’s main pedestrian High Street, is fully let to Åhléns until 2025.
• ActivumSG Iberia Fund I has acquired the 20,647-square-metre Zubiarte shopping centre in Bilbao, Spain, from Sierra Fund and CBRE Retail Property Fund Iberica. Sierra Fund is managed by Sonae Sierra and CBRE Retail Property Fund Iberica is owned by CBRE Global Investors; ActivumSG Iberia Fund I is managed by ActivumSG Capital Management L