Aprirose buys Chester retail park for £36m

Aprirose Real Estate Investment has acquired Greyhound Retail Park in Chester for £36m.

As tipped by Property Week, the 121,103 sq ft retail park has been sold by Standard Life Investments after being put on the market before the EU referendum for around £38m.

The acquisition is the second recent deal Aprirose has conducted with Standard Life Investments, following the purchase of The Leonardo Hotel in Heathrow for £25.5m.

Gary Jones, chief operating officer at Aprirose said: “The Greyhound Retail Park is a great asset to add to our expanding portfolio. It offers a variety of prime brands and the potential to further develop the asset with a food offer.

“This is our fifth transaction since the EU-referendum, as we continue to look for investment opportunities across all asset classes in a time of uncertainty for the property market.

“The Greyhound Retail Park is a prime investment opportunity which further fits with our strategy of buying high quality assets to add to our diverse £1bn portfolio. It also marks the second successful deal in our relationship with Standard Life Investments.” 

Aprirose was advised by Mason Partners and Standard Life Investments was advised by Montagu Evans.

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