Sector boost as fund manager pounces on Midlands retail park

摘要

US fund manager Ares Management is on the verge of buying a Midlands retail park for £65m, as investor appetite for the sector starts to pick up. The company is under offer to buy the 181,809 sq ft Castle Vale Retail Park in Erdington, Birmingham, from M&G Real Estate. The retail park market has become more active in recent weeks, having suffered a lull as buyers sat on their hands following the EU referendum.