British Airways, took West Midlands' three units on the Deane Retail Park, Taunton as part payment, with a cash top-up. But the fund retains an interest in the Fort which it co-owns the £200 million park with Clerical Medical & General Life Assurance Society and Henderson Retail Warehouse Fund,
The Fort is one of the country's foremost shopping parks and comprises 24 units and five restaurants totalling 260,000 sf of space. In addition to fashion retailers Next; Burtons; Top Shop; Wallis; Principles; New Look and River Island, the park also houses WH Smith; HMV; Boots; Bhs and Sports Soccer. Rents on the scheme range from £12.50 ($21) to £50 ($85) per sf.
Healey & Baker Investment Managers acted jointly with Edgerley Simpson Howe & Partners on behalf of West Midlands Metropolitan Authorities Pension Fund. Cushman & Wakefield Healey & Baker acted for British Airways Pension Fund.
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