23rd Jun 2015 09:40
LONDON (Alliance News) - Legal & General Group PLC's property arm on Tuesday said it has struck a deal to buy an office portfolio in the south east of England for GBP135.5 million.
Legal & General Property has acquired the portfolio from JLL and Capital Real Estate Patners on behalf of a private family office client. It comprises six offices based in Weybridge, Maidenhead, Slough, Bracknell, Basildon and Cobham.
"This was a great opportunity to acquire high quality assets in strong South East towns where occupier demand remains high but investment opportunities are often few and far between. The portfolio is fully let by blue chip tenants and its underlying strengths make it a natural fit for our UK Property Fund. They are decent income-producing assets, and we see further potential for asset management by our team," said Legal & General Property fund manager Matt Jarvis.
Shares in Legal & General were up 0.9% to 260.76 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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