Newcore grows UK portfolio with €10m investment (GB)

Newcore grows UK portfolio with €10m investment (GB)

Newcore Capital Management has acquired a further €10m (£9m) of assets in the south of England for Newcore Strategic Situations IV LP, a new €111.6m (£100m) value-add fund for institutional and family office investors. 


The largest of the three acquisitions is the purchase of a 19,069ft² Mazda car showroom set on a prime one-acre site in Imperial Way, south Croydon. The property is leased to Drift Bridge Garage for a further 5.6 years.


In Winchester, Newcore has acquired a 1.31-acre site at Otterbourne, which is cleared and has received planning consent for a care home development. The company is working with its current occupier base to design the right scheme for future development and occupation.


In Brixton, Newcore has acquired a former adult day centre for individuals with learning difficulties on Tulse Hill and subsequently leased the two vacant buildings, totalling 7,686ft², to N Family Club, a children's nursery operator on a 25-year lease.


Hugo Llewelyn, Managing Director of Newcore, said: “These three investments provide excellent scope for our value-add strategy, which we believe should generate attractive returns for our investors”.


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