The acquisition activity to date has focused primarily on the UK, which has been leading the recovery in commercial property, the Nordics and Germany. In addition to acquiring prime secure income streams, Cordea Savills is also taking advantage of current market dynamics by buying into short- term active asset management and development opportunities.
In the UK, the spread of activity has concentrated on London and the South East and the main regional cities. Alternatives assets such as car showrooms and data centres, as well as industrial assets, have been an area of focus.
The most notable acquisitions in the Nordic region have been in Copenhagen where Cordea Savills’ funds have purchased eight prime high street properties via three separate transactions. The total invested was EUR160 million. EUR140 million has been invested in Germany in established office and retail assets.
Kiran Patel, Chief Investment Officer of Cordea Savills, commented:
“It has been an exceptional first six months for Cordea Savills. The figures demonstrate that we are currently very active in the market across Europe. On top of the £1 billion in acquisitions, we are also taking advantage of some attractive market pricing to dispose of assets, of which some £180 million (EUR 220 million) has been achieved to date. The second half of the year will be equally active as we have an outstanding purchasing capacity of over £400 million.”
Citigate Dewe Rogerson
Patrick Evans / Stephen Sheppard / James Madsen / Alice Stewart
Tel: +44 (0)20 7282 2966