Fund manager Cordea Savills has completed the purchase of two assets worth a total of nearly £10 mln (almost 12 mln) on behalf of its UK Income and Growth Fund.
Fund manager Cordea Savills has completed the purchase of two assets worth a total of nearly £10 mln (almost 12 mln) on behalf of its UK Income and Growth Fund.
The fund now has six assets with value of £77 mln.
The first acquisition is Apollo Park, near Warrington, a new mixed-use development let on long leases with RPI indexation to tenants including Travelodge, Harvester and Starbucks.
The second acquisition is also a mixed-use property in Jermyn Street, London, comprising a retail unit on the ground floor and basement let to Russell & Bromley, with offices and consulting rooms above. This property offers potential to enhance value via asset management.
Cordea Savills UK Income and Growth Fund is a Jersey Unit Trust with a Luxembourg FCP feeder. The Fund’s objective is to deliver a net income distribution in excess of 5% as well as capital growth over the longer term. It invests in prime assets across all the main commercial sectors.
