PARIS—AXA Real Estate Investment Managers, has made the first acquisitions on behalf of the recently launched UK Long Lease Property Fund, with the purchase of two supermarkets for around £38 million in aggregate. The Fund has acquired a supermarket let to Waitrose on the High Street in Sevenoaks, Kent, for £11.5 million, and a 56,800 square foot supermarket let to Tesco in Mickleover, Derby, for £26.3 million.

AXA, the leading real estate portfolio and asset manager in Europe¹, with over €43 billion of assets under management as at September 2012, announces that it has made the first acquisitions on behalf of the recently launched UK Long Lease Property Fund, with the purchase of two supermarkets for around £38 million in aggregate. The Fund has acquired a supermarket let to Waitrose on the High Street in Sevenoaks, Kent, for £11.5 million, and a 56,800 square foot supermarket let to Tesco in Mickleover, Derby, for £26.3 million.

“To be able to announce the completion of two high quality acquisitions so shortly after the launch of the new fund demonstrates AXA's ability to put its extensive transaction network in the UK to effective use in sourcing suitable investment opportunities for its clients,” said John Osborn, fund manager at AXA. “Both of the assets we have acquired fit precisely into the Fund's strategy of investing in properties with strong property fundamentals that are capable of generating secure, long term income streams with rental uplifts