UK - Standard Life Investments has paid £14.2m for the freehold of a TK Maxx unit in Newcastle-under-Lyme for its Unit Linked Life Fund.
The 261,000 sq ft unit in Lymedale Business Park has an annual rent of £977,120 from a lease expiring in 2016.
It was purchased in an off-market transaction from a private investor. The business park, which comprises 1.5m sq ft of industrial space, includes Asda, Bestway Cash & Carry, Tree of Life and Abacus Distribution among its tenants. A new unit is also under construction.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.