Henderson Global Investors has been given the green light to buy a portfolio of designer factory outlets for around £380 million.

In what could be the largest UK property deal this year, the fund manager will purchase designer outlets in Cheshire, Wales and Wiltshire, the Financial Times reports.

Cheshire Oaks centre, the Bridgend Designer Outlet and Swindon Designer Outlet will be bought from limited partnerships made up of a number of UK institutions including the BP pension fund, AXA and Morley Fund Management as well as US real estate investor Liquid Realty.

Planned closure within the next 18 months of the vehicles which own the centres has prompted the sale, Property Week reports.

McArthurGlen is expected to remain as manager for the three outlets, which comprise of 350 shops including brands such as Calvin Klein, Burberry and Hugo Boss.

Bids for the deal were also submitted by Moorfield and a joint partnership between Chester Properties and Apollo Real Estate Advisors.

Wednesday, 23 April 2008

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