Australian super fund invests in London’s King’s Cross

April, 2015 Print

Share:

shutterstock_104652893

AustralianSuper, a large Australian multi-employer superannuation fund, has taken a 25% stake in a 67-acre site at London’s King’s Cross, as part of a partnership which includes Hermes Investment Management, DHL Supply Chain and London & Continental Railways Limited.

The investment is AustralianSuper’s first direct investment in London. The site includes 8 million square feet of offices, homes, hotels, shops, restaurants and other facilities, which will be managed as a single estate by the King’s Cross Central Partnership. Sir David Clementi, chairman of the partnership, said: “Having worked together for 14 years, the current partnership’s long-term approach has had tangible benefits for the development of King’s Cross as a successful London neighbourhood. The introduction of AustralianSuper as a like-minded investor will cement this long-term ownership structure and ensure King’s Cross’s future as one of London’s great estates.”

AustralianSuper head of property, Jack McGougan, said: “The King’s Cross development represents a significant opportunity to invest in a world-class mixed-use estate. This will be our second major foray into the UK property market in partnership with Hermes Investment Management and underlines our commitment in pursuit of our strategy to acquire core assets in major international cities with trusted and experienced local partners.” AustralianSuper was advised by TIAA Henderson Real Estate.

ROUND-UP

Related Posts

Comments are closed.

Follow by Email
Twitter
LinkedIn