Kier Property, the development arm of Kier Group, has announced the sale of Bell Green Retail Park in Sydenham to CBRE Global Investors . CBRE Global Investors were acting on behalf of West Midlands Pension Fund.
The site was acquired by Kier Property seven years ago from National Grid. Since, it has developed more than 13 acres, including the retail park and adjacent 75,000 sq.ft. Trade City scheme. Situated off the A212, the park lies next to the Sainsbury’s superstore, and comprises 11 units extending to 142,000 sq.ft with occupiers including Next, Dixons, B&Q, Pets at Home, McDonalds and Aldi, which recently secured consent for the former Toys ‘R’ Us unit.
Leigh Thomas executive director for Kier Property commented: “We are delighted to announce this sale to CBRE Global Investors, it demonstrates there is still demand for well-located retail warehouse assets with strong occupational line ups. Kier Property remains committed to a number of retail development schemes in the UK, working with those retailers with whom we have well-established relationships”
Kier Property has developed more than one million sq ft of retail space across the UK and was represented in this instance by Cushman & Wakefield.