UK - Ropemaker Properties, the direct real estate investment arm of the BP Pension Fund, is expected to complete two real estate acquisitions in the UK.
It has had an offer accepted from UBS Global Asset Management for its office property at 55 Gracechurch Street in the City of London, and is looking to acquire the Hathaway Retail Park in Wiltshire from Prupim.
Ropemaker has offered approximately £28m (€32m) for the Gracechurch Street property, reflecting a net initial yield of around 8%, and approximately £15m for Hathaway, reflecting a yield of 8.5%.
The retail centre in Chippenham, Wiltshire, is home to a number of tenants, including Halfords, Dreams, Laura Ashley and Homebase.
These deals are the latest in a long line of acquisitions, including Taunton Retail Park and 200 Hammersmith Road in London.
