The Crown Estate has been selected as the preferred bidder for Fosse Park , the jewel in the eight-strong Swallowtail portfolio.
The firm has pipped a number of parties, including Land Securities and Delancey, to secure the 559,100 sq ft retail park, which is located on the outskirts of Leicester. Its valued at between £300m and £350m.
It is let to tenants including Next, River Island, New Look, and Argos.
James Cooksey, head of St James’s and the regional portfolio at The Crown Estate, confirmed its bid last month, explaining: “As one of the top five owners of regional retail property in the UK, The Crown Estate continues to seek opportunities that align with our investment strategy and we are considering a bid for Fosse Shopping Park in that context.”
Abbey Group and Foyleside Group are marketing the £710m portfolio of shopping centres in the UK and Ireland, dubbed Project Swallowtail. It includes a combined 2.6m sq ft of retail space.
Wilkinson Williams advising Crown Estate; Savills is acting for Abbey Group and Foyleside Group.
annabel.dixon@estatesgazette.com
