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CBRE Global Investment Partners and Arax Properties bought a retail center north of Bristol for £88.8M. Willow Brook Centre was the fifth purchase for the duo, who are already collaborating on a portfolio of logistics assets in France acquired in 2015.
The 231k SF Willow Brook Centre is a town centre retail park in Bradley Stoke, a residential suburb north of Bristol with a local catchment of approximately 169,000 people.
The centre was opened in 2009 and is anchored by Tesco. There are 40 other tenants, including Argos, Iceland and Boots. CBRE Global Investment Partners’ fund manager Charles Baigler said the asset will provide a long-term, stable income stream supported by strong catchment fundaments, and is also an opportunity to diversify income.
