UK retail park

UK retail property group NewRiver REIT has teamed up with Singapore-based investors to fund a push into retail parks. The partnership signals renewed overseas interest in British out-of-town retail assets. Further details on the size of the investment and the specific sites targeted have not yet been disclosed.

A property joint venture has purchased a UK retail park for £74 million from Legal & General. The deal adds a large out-of-town retail asset to the buyers' portfolio and marks another significant transaction in Britain's commercial property market, where institutional investors continue to trade retail parks despite broader pressures on the sector.