British Land has acquired the Blackwater Shopping Park from a fund managed by UK real estate asset manager Lothbury Investment Management.
The asset in Farnborough, which had been owned by Lothbury Property Trust since 2014, was acquired for 拢38m (鈧�44m).
Blackwater Shopping Park comprises 118,164sqft across 12 units including a standalone McDonald鈥檚 drive-thru and a Costa Pod.
Ed Hockley, director at Lothbury Investment Management, said: 鈥淎 sale of Blackwater Shopping Park conforms with the Lothbury Property Trust strategy to reduce the portfolio鈥檚 exposure to the retail sector.
鈥淭he proceeds of the sale have been allocated to some key sustainable developments ongoing within the Fund in the life sciences and industrial sectors.鈥�
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