Cheshire Oaks Designer Outlet reportedly sold in huge deal worth £600m

Cheshire Oaks Designer Outlet has reportedly been sold in a deal worth £600m.

The Times reported over the weekend that the purchase of the popular Ellesmere Port shopping destination, along with a designer outlet in Swindon, had been agreed.

According to the report, real estate investment management firm LaSalle Investment Management – a subsidiary of the property giant JLL – has struck a deal to buy the Cheshire outlet village from current owners Nuveen Real Estate.

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When CheshireLive approached LaSalle, the company declined to comment.

The sale, representing a yield of 6 per cent, would be the biggest retail property deal for seven years.

LeSalle beat off competition from Bluewater owner Landsec to seal the deal with Cheshire Oaks understood to make up the bulk of the purchase price., reports The Times.

Nuveen Real Estate has bought Cheshire Oaks Designer Outlet back in 2008.

The outlet village is managed by the McArthurGlen Group, a company which develops and manages designer outlet malls.

Boasting 145 stores as well as food and drink units, Cheshire Oaks Designer Outlet is the UK’s largest outlet centre.

Cheshire Live – Cheshire