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LONDON-In a rare secondary trade of shares in a limited partnership, airports operator BAA has sold an 18.75% stake in Ashford Investor Limited Partnership to Staffordshire County Council Pension Fund. The partnership owns the 200,000-sf McArthur Glen Designer Outlet at Ashford, Kent and the deal values the scheme at over £80 million. BAA retains a 25% holding.

Ashford Investor Limited Partnership is the fourth factory outlet limited partnership created by BAA McArthur Glen, offering institutional investors the opportunity to participate in the future performance of the centre alongside the operator BAA McArthur Glen. BP Pension Fund and CIS are also investors in the Ashford partnership.

BAA’s financial and property advisors on the transaction were Jones Lang LaSalle Corporate Finance and Staffordshire County Council Pension Fund was represented by DTZ Corporate Finance. NAI Gooch Webster are the fund’s property advisers.

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