Tikehau makes UK debut with shopping centre deal

Paris-based Tikehau Capital has acquired the Nicholsons Shopping Centre in Maidenhead, UK, through its real estate value-added fund, for an undisclosed sum.

The centre comprises 190,000 ft2 (17,600 m2) of space and includes 68 stores with tenants including H&M, Topshop, Tesco and Pandora.

The deal represents Tikehau Capital’s UK debut, and is the second acquisition for its pan-European real estate value-added fund, launched in June 2018 with an initial closing of €300 mln.

The first deal was the joint venture purchase with Bouygues Immobilier of the Charenton-Bercy redevelopment project in the Greater Paris area.

'This deal confirms our strategy to focus on repositioning well located assets to unlock their full potential,' said Tikehau Capital’s head of real estate, Frédéric Jariel.

'This investment is a key milestone in the deployment of our value-added fund throughout Europe and is in line with Tikehau Capital's strategy to strengthen the development of its activities in the United Kingdom,' Jariel added.

The operation was carried out in collaboration with UK-based Areli Real Estate, an urban regeneration specialist.

'Areli is thrilled to be supporting Tikehau Capital purchasing and repositioning this important project,' said Areli partner Rob Tincknell. 'Through the potential regenerating of the centre, we are really excited to help deliver those goals.'


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