Rockspring acquires EUR 88m of property in the UK

London-based property fund manager Rockspring Property Investment Managers said it has acquired four properties for a total sum of £74.8 mln (EUR 88.5 mln) in London's Midtown (WC1), Shardlow (Derbyshire), Cardiff and Swindon.

On behalf of Rockspring Hanover Property Unit Trust (RHPUT), the fund manager has acquired the freehold interest in Fox Court for £52.2 mln (EUR 61.7 mln), reflecting a net initial yield of 7.4% from Prudential Assurance Company Ltd. The purchaser was advised by Gresham Down Capital Partners and JLL acted for the vendor.

On behalf of the Cheshire Pension Fund (CPF), Rockspring has bought the freehold of Welcome Break Services at Shardlow from AXA for £12.31 mln (14.5 mln), reflecting a net initial yield of 6.42%. Rockspring was advised by GVA Grimley and Rapleys acted for AXA. Also on behalf of the CPF, Rockspring has acquired a prime retail asset in Cardiff on Queen Street from LaSalle Investment Management for £3.3 mln (EUR 3.9 mln), representing a net initial yield of 5.8%. Rockspring was advised by Jackson Criss and Savills acted for the vendor.

Rockspring TransEuropean IV, advised by Caisson Investment Management, has acquired the freehold interest in Ash & Birch Industrial Estate, Swindon, from Prupim for approximately £7.20 mln (8.5 mln). The 169,000 sq ft (16,000 m2) scheme comprises 42 separate industrial and distribution properties and tenants include Geodis Wislsonm Cleve Technology, Swindon College, Premier Watercoolers and AGI Media.