Invesco Real Estate (IRE), the international property investment manager, has completed the first acquisition for its third UK fund of a retail property in Bromley, South-East London for £17.05 mln (EUR 20 mln). The property is predominantly let as a department store to British Home Stores, with an office component let to computer services firm Selection Services.

The 9,600-m2 property is located on Bromley's pedestrianised high street, opposite The Glades shopping centre, and benefits from a 99-year lease with 65 years remaining to BHS on an upward-only rental review, every five years.