Abrdn has acquired the Tandem Centre, a retail park in Colliers Wood, London, for £60.8 million (€72 million) from LaSalle Investment Management.
The acquisition was made on behalf of the Standard Life Pooled Pension Property Fund, of which abrdn is the discretionary fund manager.
The Tandem Centre is a retail destination in South London, encompassing 118,079 square feet (11,150 square metres) of retail warehouse space across 16 units on a freehold 7.68-acre (2.7 hectares) site.
The centre is fully let to a diverse mix of retailers, including Lidl and Next. The asset presents various asset management opportunities.
Located just 8 miles (13 kilometres) from Central London, it serves a large and affluent catchment area and provides the opportunity for both alternative, and the intensification, of land uses at the site over the longer term.
Source: propertyeu.info on the 1st of July, 2024