Standard Life Investments has received a multi-million pound investment from Dutch company PGGM.
Dutch pension fund PGGM has invested £62 million in a major UK
property investment fund, the company has announced.
Stand Life Investments' (SLI) Shopping Centre Trust is the beneficiary of the money, which has key
commercial development projects such as the Brent Cross unit in London and Churchill Square in Brighton in its portfolio of nine prime assets.
While the few properties makes it a core portfolio, it is operated by a team that truly understands the UK commercial property market and can therefore maximise returns, the firm claims.
Ed Jenkins, fund manager for SLI's Shopping Centre Trust, said: "It's a testimony to the quality of the Trust's portfolio that PGGM has chosen to invest with us.
"PGGM are without doubt one of the biggest investors in Europe, both in terms of assets and reputation."
Earlier this month SLI investment director Andrew Jackson said that commercial property was about to experience a "double-dip" with assets values set to fall by up to five per cent.
Posted by Pete White.
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