Korean investors swoop on West Mids retail park in year’s biggest deal

Gallagher Shopping Centre_Quadrant

Hana Financial Investments has acquired the Gallagher Shopping Park in the West Midlands from KKR and Quadrant Estates for £175m – the largest single-asset sale in the UK retail warehouse market this year.

The Korean investor acquired the park, which is located on junction 9 of the M6 in Wednesbury, via a real estate fund managed by Korea Asset Investment Management (KAIM).

The vendors said it is the first time that Korean investors had entered the UK retail sector.

The park was acquired by KKR’s Real Estate Opportunity Fund and operating partner Quadrant Estates in 2014 by piecing together three separate ownerships at a cost of around £123m.

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