Korean investors buy Wednesbury shopping park

hana logoHana Financial Investments has purchased Wednesbury’s Gallagher Shopping Park for £175m, using a fund managed by Korea Asset Investment Management (KAIM).

The 195,000 sq ft retail park was previously owned by KKR, which has spent £140m since 2014 purchasing three separate properties, unifying ownership and developing the site.

According to KKR, this is the largest single asset sale in the UK retail warehouse sector this year, while KAIM said that the company was attracted to the strong trading performance and good location at junction 9 of the M6.

Gallagher Shopping Park includes household names such as Next, M&S, TK Maxx, DFS and Currys, as well as a wide range of other shops and restaurants. Quadrant Estates worked with KKR as an operating partner and will continue to work with KAIM to manage the park as it changes hands.

Think Sandwell wishes the new owners all the best for the future. To find out how we can help your company grow, visit our Business Services pages.