Lime Property Fund completes four investment transactions totaling £114 mln. (UK)

In the last two weeks of December Aviva Investors' Lime Property Fund completed four investment transactions totaling £114 million (approx. €137 million).

It invested £24 million in a forward funding of an approx. 6,000-m² Morrisons supermarket at Leigh Sports Village, Leigh bought from Greenbank Partnerships Limited.

The fund also invested £38 million in a forward funding of the development of a 400-bedroom Premier Travel Inn at Longford House, Heathrow. The vendor was AP19 Limited, a company owned by the Arora Family Trust.

The Lime Property Fund also acquired an approx. 6,850-m² Sainsbury's superstore in Macclesfield from British Land for £36m. And finally it invested £15.5 million in a forward funding of the development of a new 5,000-m² office building by Dawn Developments Limited pre-let to Glasgow Community and Safety Services Limited in the Clyde Gateway regeneration area in Glasgow.

International law firm Pinsent Masons advised Aviva on all four transactions. Pinsent Masons partner Richard Daffern said: "Lime Property Fund is one of the UK's leading secure income property funds. The four deals demonstrate how it focuses on long leases to quality tenants to deliver secure income streams. The deals presented a challenging set of deadlines for us which we are pleased to have met for Aviva."

Source: MJ2 Limited

Related News