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Capital & Regional Grows The Junction Out-of-Town Fund

LONDON-Capital & Regional and Morley Fund Management have brought four more retail parks for their The Junction out-of-town retail fund, and a Morley-managed fund has injected another Pounds 100 million ($145 million) into the fund.

By Graham Parker | Updated on April 23, 2002

LONDON-The Junction Limited Partnership, the fund managed by Capital & Regional and Morley Fund Management Limited, has bought four retail parks from Burford Holdings for £145 million ($210 million). And at the same time the Commercial Union Life Fund, managed by Morley, is to invest £100 million ($145 million) in the fund.

The four new retail parks are: the Octagon retail park in Stoke-on-Trent, Staffordshire; the Lakeside Extra retail park in Thurrock, Essex; the Euro retail park in Ipswich, Suffolk and the Cockhedge shopping park in Warrington, Cheshire. The four provide a combined floorspace of 760,000 sf.

The Junction Chief Executive Andrew Lewis-Pratt, said: ‘Our strategy of expanding our existing portfolio of large scale parks over 120,000 sf is now well under way. The sites have the potential to add destination stores to become the dominant retail parks in their catchment areas.’

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