ICG Real Estate Completes £136.5m Acquisition of London-Centric Retail Parks

ICG Real Estate, the property arm of Intermediate Capital Group, has finalized the acquisition of a £136.5 million portfolio of retail parks located in Greater London and the South East. The acquisition was made through the Strategic Real Estate II Fund and includes Priory Retail Park, Great Lodge Retail Park, and Arches Retail Park situated in key areas such as Colliers Wood, Tunbridge Wells, and Watford. These assets, occupying 360,000 square feet of gross lettable area, house 16 blue-chip anchor tenants and present low vacancy rates below 2%, highlighting their strategic importance for omni-channel retail models. ICGRE plans to leverage market demand and favorable real estate conditions to enhance returns throughout the hold period, emphasizing asset management potential. This acquisition aligns with ICGRE’s strategy of investing in operationally critical properties within strong occupational markets.