Hermes Real Estate has appointed JLL to sell three major regional mixed use parks in the South East, North West and Scotland. They comprise Chineham Park, Basingstoke, Birchwood Park, Warrington and Hillington Park, Glasgow.
Chris Ireland of JLL is leading the sale which represents a unique opportunity to buy into the improving UK regional market through the acquisition of three dominant parks, which have not been traded in the last 20 years.
Chris Taylor, chairman of MEPC and CEO of Hermes Real Estate confirmed that it is looking to recycle capital from assets it has owned and successfully managed with MEPC for many years, saying:
“MEPC will focus on its remaining core assets and will continue to look for new development led opportunities, capitalising upon its proven ability to anticipate future occupational requirements, like its recent acquisition of Silverstone.
“The highly successful MEPC asset management platform, which is led by chief executive, James Dipple, could be utilised by the successful purchaser to manage the parks which combined are home to over 510 tenants.”