Grosvenor Europe completes sale of Heron Parc, Lille

The retail park was sold to a fund managed by BNP Paribas.

28th December 2016

Grosvenor Europe (Grosvenor) has completed the sale of Heron Parc, a retail park in Lille, to a fund managed by BNP Paribas.

Grosvenor Europe acquired the asset on behalf of its French retail fund (Urban Retail II) in 2010. It was the largest asset in the fund.

The 42,000m2 retail park is fully let to high quality tenants including brands such as UGC, Nike and Zodio.

Grosvenor was advised by the Allez et Associés, Allen and Overy and Fidal. BNP Paribas REIM was advised by Wargny Katz, Gide and PWC.

The transaction was conducted by CBRE's Retail Capital Markets team as part of an exclusive sales mandate.

ENDS

For more information contact:
Becca Dwyer, Press Office
Grosvenor
020 7312 6101
Rebecca.dwyer@grosvenor.com

 

Notes to Editors

Grosvenor Europe

Grosvenor Europe invests, develops, operates and manages real estate assets and funds, with a focus on six European cities: Paris, Lyon, Stockholm, Madrid, Milan and Liverpool. We specialise in mixed-use property, with strong expertise in retail and leisure and adopt a long-term, value-add approach. We work closely with our international partners, utilising the knowledge of our local teams to provide access to local European markets. We strive to bring our ‘Living cities’ philosophy to life, creating places that are economically, socially and environmentally sustainable.

Previously known as Grosvenor Fund Management, as at 31 December 2015 we managed £3.5bn / €4bn of assets, including a portfolio of historical buildings in the heart of Lyon’s city centre in France, Liverpool ONE in the UK and Skärholmen Centrum shopping centre in Stockholm. www.grosvenor.com   @GrosvenorEurope

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