Hunter Retail Trust makes two further acquisitions
Forsters has advised the Hunter UK Retail Trust Fund on its second round of acquisitions, taking total investment to £22 million since the fund's launch last summer. The fund has been seeded with £64 million of equity with investment capacity up to £100 million.
The firm has most recently advised on the purchase of a 34,000 sq ft high-street retail parade on Foregate Street in Chester for approximately £6.5 million, together with the acquisition of 9-13 Westgate Street in Ipswich for a purchase price in the region of £2 million. The Ipswich property is currently let to Claire’s Accessories and footwear retailer tReds. Forsters also advised the fund on the acquisition of the neighbouring retail units last year. 5/5A Westgate is let in its entirety to jewellers H Samuel, with the adjacent retail unit at 7 Westgate let to health food multiple Holland & Barrett.
Senior Partner, Smita Edwards, advised the fund on the acquisitions, assisted by solicitors Owen Dutton and Michael Preston.