The £2.2bn (€3bn) Dorset Pension Fund has begun the process of constructing an office building in Cambridge by tendering for architectural and construction services.
The fund, which provides pension benefits for public sector workers in the Southwest of England, said the project involved the design and construction of grade-A office space in a business park in Cambridge, in the East of England.
The local government pension scheme said it expected the contract, which comes from its £211m allocation to property, would be worth around £10m.
This equates to around 9.7% of its total assets, according to figures from the end of September 2014.
Its entire property portfolio is managed by CBRE Global Investors, which made a 12.1% return on the mandate between April 2013 and 2014.
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