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15 May 2017 Growth in Continental Europe remains robust in Q1 2017 Europe commercial real estate investment totalled €56.1bn in Q1 2017 according to CBRE. Trading activity in continental Europe increased despite elections in several notable markets. 15 May 2017 Retail park vacancy rates hit record low in the UK Vacancy rates in the retail warehouse market have fallen to their lowest level in more than 15 years. Research by Trevor Wood Associates said vacancy rates have fallen to 5.3%, down from 5.9% last year and well below the peak figure of 11.8% recorded in 2009. 15 May 2017 Globalisation is alive and well in the real estate sector Cushman & Wakefield’s 2017 Atlas Summary report tells the investment stories that are driving the market ahead. Despite political uncertainty, rising populism and the threat of protectionism, cross border real estate investment interest remains high and capital continues to flow in and around all areas of the world.

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Brockton Capital and Pradera launch JV

Brockton Capital LLP and Pradera UK Ltd have formed a joint venture partnership to selectively acquire a portfolio of retail parks throughout the UK. The partnership has jointly committed sufficient equity to enable a gross portfolio value of approximately £250m to be acquired, which aims to generate good returns on existing assets with solid income.

Tony Edgley, a Partner at Brockton said: “We don't underestimate the seismic changes that are occurring in the retail sector nor the heightened risks, but ultimately, retailers will gravitate to affordable locations that deliver sustainable profits. Consumers will shop where the offer is modern, sympathetic, multi-channel and convenient. Stock selection is everything. Our partners in the Pradera team bring both an invaluable historical perspective on how the sector has evolved to its current generation of parks, but more importantly a clear view on the inevitable modernisation that needs to occur in the more ageing retail warehouse park stock."

Neil Varnham, a Director at Pradera said: “Retail warehousing will prove to be one of the more resilient property sectors as it adapts and flexes to accommodate changing retailers requirements in the future. With our partners at Brockton, we are aiming to push the boundaries on growing the appeal of retail parks through design, tenant mix and the integration of additional complimentary uses.”

The partnership has also completed its first acquisition, the 150,000 sq. ft. Cardiff Gate Retail Park, north east of the City centre. Anchored by B&Q and three furniture outlets including DFS and a McDonald’s drive through, the park functions well as a classic bulky goods park.

Richard Gore, a Director at Pradera said: “We are delighted to have secured our first asset for the JV so quickly. Cardiff Gate Retail Park is already a successful asset offering good quality solid income and has the ability to improve still further thereby repositioning itself within the local community and the hierarchy of retail parks within the City. The partnership will look to take on similar projects where it can enhance the current retail park offer and attract an excellent portfolio of tenants.”

Deutsche Postbank AG (London Branch) has provided senior debt to the partnership. Savills acted for the vendor and Edgerley Simpson Howe acted for the Brockton Pradera partnership.

Pradera News

PRADERA RETAIL ASIA APPOINTED ASSET MANAGER FOR A FOURTH SHOPPING CENTRE IN CHINA

Pradera Retail Asia has been appointed asset manager of Mosaic Chongqing Metro Park, a 100,000 sqm shopping centre in the urban city of over 18 million people in Southwest China, further bolstering Pradera Retail Asia expansion in the region.

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PRADERA COMPLETES FIRST ACQUISITIONS FOR PRADERA EUROPEAN RETAIL PARKS FUND IN EUR 900 MILLION DEAL WITH IKEA CENTRES

Pradera, one of Europe’s leading specialist retail property fund and asset managers, has completed the first acquisitions for the Pradera European Retail Parks SCSp, a Luxembourg fund which in March signed a EUR 900 million transaction with IKEA Centres to acquire 25 retail parks in eight European countries.

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PRADERA LAUNCHES EUROPEAN RETAIL PARKS FUND IN EUR 900 MILLION DEAL WITH IKEA CENTRES

Pradera, one of Europe’s leading specialist retail property fund and asset managers, has today announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900 million transaction agreed with IKEA Centres.

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PRADERA NAMES STEFANIA EMANUELE AS FINANCE DIRECTOR, SOUTHERN EUROPE

Leading specialist retail fund and asset manager Pradera today announced the appointment of Stefania Emanuele to the role of Finance Director, Southern Europe.

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PRADERA MAKES SENIOR HIRE FOR ASIA JOINT VENTURE

Pradera, one of Europe’s leading specialist retail property fund and asset managers, today announced the appointment of Rhys Evans to the position of Head of Asset Management for its Pradera Retail Asia, the joint venture with Macquarie Retail Real Estate Management Limited announced in September.

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BARRY COX JOINS PRADERA RETAIL ASIA

Pradera, the specialist retail fund and asset manager, today confirms the expansion of its Asian team with the appointment of Barry Cox as Head of Business Development to Pradera Retail Asia, the joint venture with Macquarie Retail Real Estate Management Limited (a subsidiary of Macquarie Infrastructure and Real Assets (Hong Kong) Limited (MIRA)) announced in September.

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