Rockspring Property Investment Managers has acquired three UK properties for £54m (€61.8m) and expects to make further acquisitions.
Rockspring said it bought the fully let Mott MacDonald House, a 64,000sqft office property in Croydon, for £21.2m from Aviva Investors.
The manager also bought the Bath and Cayton office building in London from City, University of London for £17.3m. The asset is a 23,158sqft warehouse-style building, with a basement, ground and five upper floors, that is currently fully let to Moorfields Eye Hospital NHS Foundation Trust.
The third asset is a 148 bed Holiday Inn hotel in York City Centre, which was acquired for £15m on behalf of Rockspring Hanover PUT from Quidnet Capital and Colony North Star. The asset is let to Kew Green.
Jamie Younger, the head of UK transactions at Rockspring, said: “These transactions demonstrate our highly selective approach to stock picking, which is underpinned by in-depth research on the fundamentals of each asset.
“Each of the acquisitions is located in performing locations with income growth potential, either through asset management or performance linked long-term leases. With a healthy pipeline of further acquisitions in the UK, where we believe there is still value to be found, we look forward to announcing further transactions over the short to medium term.”
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