Swip buys Aviva property portfolio for £260m
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Scottish Widows Investment Partnership property trust has bought a 12-property portfolio from Aviva Investors for £260m.
The portfolio includes retail warehouse parks in Beckton and Reading, offices in Manchester and Edinburgh, shop units in Bournemouth, and industrial units in Crawley. It has a net yield of 7 per cent.
Swip head of UK property fund management Gerry Ferguson says he has been actively investing the £1.4 billion trust in prime property since May, with holdings across each of the major sectors within the asset class.
Over the three years to December 4, the vehicle fell 27.8 per cent against the Investment Management Association Property sector’s average fall of 33.9 per cent, according to Financial Express.
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