HGI buys Oxford building for UK property fund

Nathan Cross |  | PrintDownload

 

Henderson Global Investors (HGI) has bought 6-7 High Street, Oxford, from DTZ Investment Management for £5.05m on behalf of its £160m Henderson UK Property Fund.

 

The company said the site, totalling 12,525 sq ft, includes a period mixed-use building with retail space on its ground and basement levels with an additional three upper floors which are currently used as a gym.

 

The retail space is let to Rymans until June 2011 and the gym is let to Bourton Mill.

 

Cameron Fraser, fund manager of the Henderson UK Property Fund, said: “We recognised an excellent opportunity in this highly reversionary unit which is situated in a prime location within Oxford’s main fashion district.

 

“It sits very well within the fund which aims to acquire assets with active enhancement opportunities as we believe it has very strong prospects for future rental growth as well as providing re-gearing opportunities.

 

“The fund now owns 28 assets and is well placed to take advantage of any current market opportunities in the UK. It has outperformed the benchmark consistently over the past five years and continues to offer solid future performance prospects.”

 

DTZ Investment Management was advised by LSH and CBRE acted for Henderson.

 

nathan.cross@estatesgazette.com