460m pounds sterling Christmas spending bonanza

Article Abstract:

The UK real estate industry attracted investment of 460 million pounds sterling immediately before Christmas 1997 as pension funds and real estate companies sought to complete deals before the end of the year. Abbey National pension fund sold its amalgamated fund portfolio to Guardian Properties' life fund for 50 million pounds sterling, for example, while Shell pension fund paid 26 million pounds sterling for industrial property sold by King Sturge. ESN is purchasing NatWest's mainly retail portfolio for more than 28 million pounds sterling.

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CEM splashes out 18m pounds sterling on mixed UK portfolios

Article Abstract:

A portfolio of five mainly office properties has been purchased for 8.35 million by investment company Commercial Estates Management (CEM) from Diligentia (S-E-Banken). The portfolio, which offers a net initial yield of 11%, is the largest of three purchased for a total of 18 million pounds sterling by CEM. The other deals are for a mixed portfolio from Cambridge University Pension Fund and the 6,503 sq mt Bedford Business Centre, purchased from Gazeley Properties.

Investment Offices, Investment Companies, Open-End Investment Funds, Commercial Estates Management

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