The Skandia Property Fund has said it is continuing to take advantage of the current value in the commercial property sector with the purchase of two properties for a total of £43 mln (EUR 50.8 mln).
The Skandia Property Fund has said it is continuing to take advantage of the current value in the commercial property sector with the purchase of two properties for a total of £43 mln (EUR 50.8 mln).
The £426 mln fund, which is managed by sub-adviser Nigel Pickup of ING Real Estate Investment Management, has invested over £85 mln during the last 12 months.
The two most recent acquisitions are: The Interchange, Wested Lane, Swanley, Kent which was purchased for a net £24.77 mln reflecting an initial yield of 6.82 per cent once fully income producing; and 180 West George Street, Glasgow, which the fund purchased for £17.43 mln, reflecting an initial yield of 6.65 per cent.
