CBRE, the global property advisor, has been appointed by AXA Real Estate Investment Managers (REIM) to manage properties within its UK Long Lease Property Fund (“Fund”). This will include asset advisory and property management services.
The Fund has already committed over £100m in purchases of long dated assets including the 44,000 sq ft Waitrose in Sevenoaks, the 57,000 sq ft Tesco store in Mickleover, the planned 161 room Ibis Hotel in Edinburgh, the Premier Inn Hotel in Winchester which spans 0.6 acres of freehold land, and the Weatherspoon public house in Soho.
David King, Chairman of Property and Asset Management UK at CBRE, said:
“We are thrilled to be working with AXA REIM in this fast expanding sector of the property fund market. AXA will continue to seek new purchases of standing investments and funding opportunities for the Fund, and we look forward to providing a first class service to support such growth.”