Focus Estate Fund has made its first UK purchase, Island Green Retail Park in Wrexham.
The Welsh retail park has a total Gross Internal Floor Area (GIA) of 103,305 square feet. Tenants include Next Outlet, Smyths Toys, Poundland, Mountain Warehouse, Iceland Foods, Costa, Heron Foods, DP Reality (Domino’s), Hope House Children’s Hospice and Sue Ryder.
Island Green Retail Park is Wrexham’s dominant retail asset
With space for 518 vehicles, Island Green is Wrexham’s dominant retail asset and largest prime warehouse park and consists of 14 modern trading units.
Cushman & Wakefield, with Griff Lewis and Marcus Wood serving as Head of Retail & Leisure Investment, represented the Focus Estate Fund. Jonathan Phillips from Metis Real Estate Advisors was the seller’s agent on behalf of clients of Nuveen Real Estate.
Maxim Shkolnick, General Partner at Focus Estate Fund, says, “This is a significant moment for us as a fund, as we venture into the UK market, recognized as a global leader in commercial real estate. We welcome the opportunity to engage with this dynamic market, its unique approach, and standards. We are also proud that this deal was made possible through the professionalism of our partners and deal agents, especially Cushman & Wakefield. They have demonstrated a high level of expertise and have been invaluable partners in this important stage of our development.
Tremendous potential
“Island Green Retail Park is a prime asset with tremendous potential, and we are committed to building upon its success. We are excited to embark on this journey and are actively seeking new tenants to join our vibrant retail community. To prospective tenants, we offer a prime location, a diverse consumer base, and a dedicated management team ready to support your business growth. To our valued customers, we pledge to continue providing an exceptional shopping experience, with a diverse range of retailers and convenient amenities. We look forward to continuing to expand our portfolio not only in the UK but also in other key markets such as Italy, Spain, Czech Republic, and beyond.”
Marcus Wood, Head of Retail & Leisure Investment at Cushman & Wakefield says, “Focus Estate Fund is looking to make further investments into UK retail property, with one asset under offer and others under consideration.”
In January, Focus Estate Fund acquired the Galeria Sandecja shopping centre in Nowy Sącz, Poland.
Focus Estate Fund is a private equity real estate investment fund focusing on non-prime value-added retail properties. Its strategy is to invest in the existing mid-market convenience retail properties in Europe’s most dynamic markets.
