Benson Elliot has purchased Slough Retail Park from Standard Life Investment for £53m and have appointed Cube Real Estate as asset manager.
Originally developed in 1988, the 151,000 sq ft retail park is home to DFS, Carpetright, Smyths Toys, Harveys, ScS, AHF, Sofology and The Range. The asset benefits from a long weighted average unexpired lease term of 7.8 years to break and low rents ranging from £17.48 to £22.50 per sq ft.
The retail park also benefits from the imminent arrival of Crossrail in 2019 and ongoing strong demand from retailers.
Standard Life Investment previously purchased the scheme in 2014 for £63m.