Login to UKBP
Commercial Property News
BA Pension Fund 'in City investment property venture'
British Airways Pension Fund is looking into an investment property deal in the City of London.
The organisation is said to be in a good position to make the move, according to Professional Pensions.
It is to complete a deal with the Columbus UK Real Estate Fund and will take on Austin Friars House in the capital, the website explains.
Its purchase price is reported to stand at £25 million and British Airways Pension Investment Management head of property Paul Scott said: "We have historically avoided the City office sector due to its past volatility but this particular opportunity looks to be well positioned for the current cycle."
Joe Froud, Columbus Capital Management managing partner, explained the building is a typical example of the sort of asset usually targeted by the firm.
The company is part of Schroders' real estate investment and asset management and focuses on the UK property market.
Posted by Darren Purse
The organisation is said to be in a good position to make the move, according to Professional Pensions.
It is to complete a deal with the Columbus UK Real Estate Fund and will take on Austin Friars House in the capital, the website explains.
Its purchase price is reported to stand at £25 million and British Airways Pension Investment Management head of property Paul Scott said: "We have historically avoided the City office sector due to its past volatility but this particular opportunity looks to be well positioned for the current cycle."
Joe Froud, Columbus Capital Management managing partner, explained the building is a typical example of the sort of asset usually targeted by the firm.
The company is part of Schroders' real estate investment and asset management and focuses on the UK property market.
Posted by Darren Purse
Fri, 20th Aug 2010