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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-Pradera joint venture acquires Northern Irish and Gloucester retail parks

Brockton Pradera Retail LLP, a joint venture between Brockton Capital and Pradera, has acquired two new retail parks to add to its growing portfolio, one of which is the partnership’s first purchase in Northern Ireland.

Springhill Retail Park, located in Bangor, Northern Ireland, is a 160,000 sq. ft. site which was purchased for just under £11m from an entity controlled by Apollo Global Management LLC (who acquired the interest as part of Project Lane from Lloyds Banking Group) after the original developer went into receivership.

The site was built in 2008 and comprises 12 units, which total 63,189 sq. ft. at ground level with an additional 38,127 sq. ft. of mezzanine space. The scheme hosts a flagship Tesco as well as a number of mainstream high-street retailers, including Next and New Look. In addition, this retail park makes sure to serve the needs of the local community, with a number of local stores as well as a community of block consisting of four units totalling 16,630 sq. ft., which includes a doctors surgery and a chemist.

The fund will be overseeing the final completions of the scheme as well as securing tenants for the remaining empty units.

Brockton Pradera Retail LLP was represented by Tughans.

Also acquired by joint venture partnership, for around £11m, is Gloucester Retail Park, a 7.5 acre site situated on Eastern Avenue, the primary retail warehouse hub of Gloucester. Built in 1990, tenants at the scheme currently include Carpet Right, What Bargains and AHF Furniture Stores.

Brockton Pradera Retail LLP was represented by Harvey Spack Field and BTW Shiells.

A spokesperson for Brockton Pradera Retail LLP, commented “We are particularly excited about the acquisition of Springhill, which is a valuable asset to list within our portfolio. The site ticked all of the right boxes and is well located on the A2 on the route between Bangor and Belfast. This purchase is a sign of our confidence in the marketplace of Northern Ireland.”

“Both parks will benefit from pro-active asset management, which continues the approach we have taken as a joint venture partnership to acquire assets with genuine potential for improvement and adding real value.”

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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