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Henderson sells two Retail Parks in Switzerland

​Henderson Global Investors has sold two retail parks in Switzerland of behalf of its European Retail Property Fund – Herald. Champs Fleuris Retail Park in Matran and Les Grosses Terres Retail Park in Etoy were sold for a combined total of c. €57 million. The centres were sold in separate transactions to Middle Eastern private investors.

Henderson Global Investors has sold two retail parks in Switzerland of behalf of itsEuropean Retail Property Fund – Herald. Champs Fleuris Retail Park in Matran and Les Grosses Terres Retail Park in Etoy were sold for a combined total of c. €57 million. The centres were sold in separate transactions to Middle Eastern private investors.

The Champs Fleuris Retail Park is a 12,000 sqm site located in in Fribourg. Main tenants include Ottos, Denner, Gemo, Happy Baby, La Grand Recre and La Halle aux Chaussures. Les Grosses Terres Retail Park in Etoy comprises 7,000 sqm and houses retailers such as Interiors, Gemo, Keria and Natuzzi.

Each are located in strong locations; Champs Fleuris sits adjacent to a COOP anchored shopping centre, while Les Grosses Terres is an established retail destination, close to IKEA and adjacent to a Migros and Hornbach.

Carl White, Fund Manager of the Herald Fund, commented: “The successful sale of these two assets is testament to the limited supply of stock within the Swiss market and a reflection of the current appetite for cross border retail investment. Having completed a number of asset management initiatives, we identified an optimum time to exit the investments. The net proceeds from the sale will now be distributed back to investors.”

Jones Lang LaSalle, Zurich acted for Henderson on Champs Fleuris Retail Park; CBRE, London acted for Henderson on Les Grosses Terres Retail Park.Henderson’s legal advisors were Bär & Karrer, Zurich on both transactions.

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