Search
 

Imperial Tobacco Pension Fund Stubs Out Industrial Investments

LONDON- The Imperial Tobacco Pension Fund is reweighting its portfolio by selling six industrial estates. It plans to reinvest the proceeds in the office and retail sectors.

By Graham Parker | Updated on February 01, 2002

LONDON The Imperial Tobacco Pension Fund has raised £30 million ($42 million) with the sale of six industrial estates to a number of separate purchasers. As part of its portfolio reweighting, it will reinvest the proceeds in the office and retail sectors.

. 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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.