. The two largest estates--Imber Court at East Molesey in South-West London and the Trident Industrial Estate at Hoddesdon, Hertfordshire-- were sold to Coal Pension Nominees for £19million ($27 million). Purchasers of the other estates, located in Luton, Bedfordshire; Tunbridge Wells, Kent; Eastleigh, Hampshire and Ashford, Kent, included London Life, CCLA and Norwich Union Property Trust.
DTZ advises the Imperial Tobacco pension Fund. Director Tony Brothwell said: 'The policy of being overweight in the industrial sector has been of significant benefit to the fund over the past few years and we are taking advantage of the current strong investment demand for industrial property to reweight the portfolio'
Brothwell said the fund is now looking at lot sizes between around £4 - £8 million ($5.5 - $11 million) in the UK retail and office sectors.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
