LONDON-Pillar Property emerged as the UK’s number one manager of retail parks in a new survey. Pillar, which invests on its own behalf and runs the Hercules fund has 4.5 million sf under management. Some way behind in second place is LaSalle Investment Management with 3.7 million sf..

The research by TW Research Associates and FPD Savills measured portfolios as at 1 June 2001. and Land Securities took the title as the UK’s leading direct owner with 3.4 million sf of retail park space.

Every one of the top ten investment managers covers more than 2 million sf of retail parks, and they account for 39% of the UK total of 78.91 million sf. Widening the analysis to include free-standing retail warehouse units, such as B & Q, Currys and Halfords still leaves Pillar Property as the leading investment manager with 4.8 million sf. Land Securities jumps to second place with 4.7 million sf. Chartwell Land, Kingfisher’s property arm, moves into fifth position with a total of 4.4 million sf.

Trevor Wood of TW Research Associates said: ‘This analysis shows the growing concentration that has occurred in retail investment management over the last eighteen months, partly through mergers and partly due to the utilisation of the skills and expertise of successful property owners for the benefit of smaller funds.’

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