Buyout firm KKR & Co had recently entered into an agreement to purchase 430,000 square feet or 40,000 square meters of prime UK retail parks. This marks the firm's first foray into the European property purchases.

The deal would have KKR acquire title to retail warehouses located in Oxford, Glasgow amd Sunderland from Resolution Property Plc. The deal was made public through an announcement though no financial details were disclosed. The adviser to the deal was Jones Lang LaSalle Inc which according to KKR would be completed in the next few weeks.

According to Guillame Cassou, European Real Estate Team head for KKR, "Retail parks have obviously suffered over the last couple of years with bankruptcies from retailers in the UK, but we think it's reached a pricing level that is attractive."

He added, "We're buying properties with a lot of asset management potential in terms of lease re-gears or a bit of vacancy on the park we can fill up."