UK - Schroder Property Investment Management has bought three properties worth a combined total of £50m.
The firm has acquired the Vicarage Field Shopping Centre in Barking, East London in a joint venture with Chester Properties’ second investment partnership fund for £40.6m. The shopping centre was acquired from Vicarage Fields Partnership, which is operated by HSBC Property Fund Management.
At Droitwich, Schroders has acquired a vacant distribution warehouse in a joint venture with Wrenbridge Developments. The final acquisition, which is based in Bedford, is a 200-acre former airfield that was bought jointly by Schroders and Frontier Estates for an undisclosed sum.
Schroders executive director Joe Froud said: “These three acquisitions illustrate the depth of opportunistic projects available to invest in.”
This week's edition of Professional Pensions is out now
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A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).