UK - Gresham Property Partners - the recently launched opportunity fund managed by Schroder Property Investment Management - has completed its first purchase.
Gresham has acquired 3 office buildings in Sutton Town Centre, Raffety House and Sentinel House from Longford Securities and Equities for £14.275m, reflecting a net initial yield of 10.33%
Upon lease expires, Schroders believes the site provides residential, retail and office opportunities and plans to progress the design of a major mixed use scheme with a development partner.
Tudor Toone advised Schroders and Chesterton represented Longford.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers