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Hines buys three UK retail parks totaling 438,000 square feet
The assets were acquired for its Hines European Core Fund, and Knight Frank data points to about £167M value for the trio based on recent trades and a March 2025 valuation for one park.
Hines has acquired three fully leased retail parks in the UK, expanding its retail park portfolio with properties in London, Manchester and Edinburgh. The purchases, made on behalf of the Hines European Core Fund, total 438,000 square feet, and the company did not disclose the purchase price.
The parks include Nugent Shopping Park in Orpington, Altrincham Retail Park in Greater Manchester, and Straiton Retail Park in Edinburgh. Hines said it expects limited new supply and resilient retailer demand to continue supporting rental growth.
Industry data cited by the firm suggests a value of roughly £167M for the combined assets, with Knight Frank indicating Altrincham and Straiton traded for a combined £88M, while Nugent was valued at £79M in March 2025. Knight Frank also said out-of-town retail vacancy fell to a record-low 4.8% over the 12 months to May 2026, with rents up 3%.
Knight Frank further noted retail warehousing generated an 8.2% total return over the period and that the absence of a meaningful development pipeline is making existing stores more valuable, with new opportunities “fiercely contested.” The acquisitions add to other retail park deals in the first half of 2026, including Hines buying Junction One in Wallasey for £48M and DTZ Investors purchasing Slough Retail Park for £55M.