First half property deals top £1 billion for Cordea Savills

August, 2014 Print

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International property investment manager Cordea Savills has completed over £1 billion of property transactions in the first half of 2014, spread over 46 individuals deals. Its assets under management have now passed £5 billion, up from £3.5 billion 18 months ago.

The firm said its most active market is the UK, followed by the Nordic region and then Germany. In the UK, activity has been concentrated in London and the south east, and in regional cities. Alternative assets, such as car showrooms and data centres, as well as industrial assets, have been a key area. In the Nordic region, prime high street property acquisitions worth €160 million in Copenhagen have been notable, while in Germany, €140 million has been invested in established office and retail assets. Cordea Savills CIO, Kiran Patel, commented: “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 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.”

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