Hines grow UK retail park portfolio with three acquisitions 

Hines has strengthened its UK retail park footprint with the acquisition of three fully leased assets totalling approximately 438,000 sq ft across Greater London, Manchester and Edinburgh. 

Nugent retail park, Orpington. Credit: Stacey Harris

The purchases were made on behalf of the Hines European Core Fund (HECF), and come at a time when UK retail parks continue to benefit from a scarcity advantage. New development remains at historic lows, vacancy rates have stayed below 5%, and resilient occupier demand has supported some of the strongest rental growth of any retail format over the past five years.

Alfonso Munk, Global Co‑Head of Investment Management at Hines, said the deals underscore the firm’s strategic focus on high‑quality retail parks in major metropolitan markets. “Limited new supply, strong retailer demand, and attractive income characteristics create a combination that has been difficult to replicate elsewhere in the retail market. These acquisitions allow us to build meaningful exposure in three of the UK’s strongest metropolitan markets.”

The three assets include Nugent Shopping Park in Orpington, Greater London, a 139,000 sq retail park.. Altrincham Retail Park in Manchester, a 228,000 sq ft retail park serving one of the most affluent catchments in North West England and Straiton Retail Park in Edinburgh, a 71,000 sq ft retail park within one of Scotland’s leading retail destinations

Ross Blair, Head of Western Europe at Hines, said the acquisitions highlight the strength of the firm’s sourcing capabilities and its focus on active management. “Success comes down to picking the right assets and executing well. We believe these retail parks combine strong fundamentals with clear opportunities to create value over time.”

Hines will oversee asset management across the portfolio through its UK platform, with a focus on tenant engagement, operational performance and capturing rental growth opportunities over the holding period.