M&G Real Estate press release archive

May 2013

31 May 2013 - M&G Investments completes new Morrison’s supermarket store development in Sheldon, Birmingham

M&G Investments, the leading investment manager, has completed the new £54 million Morrisons supermarket development in Sheldon, Birmingham, reflecting a net initial yield of 4.57%. The development is let to Morrisons on a 35-year lease linked to inflation and was developed by Chase Midland Estates.

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10 May 2013 - M&G real estate partners with Asian institutional investor to acquire three superstores

M&G Real Estate has formed a partnership with an Asian institutional investor to acquire a 70% stake in the long leases of three superstores with a combined market value of £237 million.

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April 2013

18 April 2013 PRUPIM scales up its presence in Europe to support property acquisitions

PRUPIM, the real estate investment management arm of M&G Investments, has announced today the opening of an office in Paris and a new hire in Frankfurt to support its growing number of asset acquisitions in Europe.

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11 April 2013 - PRUPIM and bell hammer gain planning permission for Forbury Place office development in reading centre

PRUPIM, the real estate investment management arm of M&G Investments, today confirms it has gained planning consent for two new office headquarter buildings, to be known as Forbury Place, on the former Energis House site in central Reading*.

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3 April 2013 - PRUPIM announces £105 million residential property portfolio acquisition

Contracts exchanged on private rental portfolio in Greater London, the south east and southern England.

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March 2013

26 Mar 2013 - PRUPIM and Hermes real estate announce shopping centre swap

PRUPIM, the real estate investment management arm of M&G Investments, and Hermes Real Estate Investment Management Limited (HREIML), one of the largest real estate managers in the UK, have today announced the exchange of contracts for the ownership swap between the centre: mk, Milton Keynes and The Friary Centre, Guildford.

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21 Mar 2013 - PRUPIM lets refurbished premises in Southampton

PRUPIM, the real estate investment management arm of M&G has let Unit K Griffin Industrial Park in Totton, Southampton to Transpack Ltd.

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19 Mar 2013- M&G investments to provide £32m of development finance for student accommodation at Swansea university

M&G Investments, the leading investment manager, has struck a deal with Swansea University and its development partner, St Modwen Properties PLC, to finance the construction of new student accommodation. M&G, which was advised by its real estate fund management arm PRUPIM, will acquire a long leasehold interest in the property, which will also provide it with a 45 year rental income, linked to inflation.

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15 Mar 2013 - PRUPIM leases remaining space at The Heights Brooklands in Surrey

PRUPIM, the real estate investment management arm of M&G Investments, confirms it has leased the remaining 102,400 sq ft of commercial office space at The Heights Brooklands, in Weybridge, Surrey.

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12 Mar 2013 - PRUPIM sells 45 Grosvenor road in St Albans

PRUPIM, the real estate investment management arm of M&G Investments, today announces it has sold 45 Grosvenor Road in St Albans. The property was sold to Threadneedle for £10.15m, reflecting a net initial yield of 8.75%.

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February 2013

22 February 2013 -  PRUPIM secures a new letting at the hub in Birmingham

PRUPIM, the real estate investment management arm of M&G Investments, confirms it has leased 120,000 sq ft to Laidlaw Interiors Group (LIG) at The Hub, an industrial and distribution centre in Witton, near Aston, Birmingham.

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21 Feb 2013- PRUPIM acquires Qantas airways’ UK headquarters in Hammersmith

PRUPIM, the real estate investment management arm of M&G Investments, today announces the acquisition of 401 King Street in Hammersmith, West London from Henderson Global Investors for £9 million, reflecting a net yield of 7.32%. The property was purchased on behalf of the M&G Pooled Pensions UK Property Fund, managed by Dermot Kiernan of PRUPIM.

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05 Feb 2013 - PRUPIM acquires Waverleygate in Edinburgh

PRUPIM, the real estate investment management arm of M&G Investments, today announces the acquisition of Waverleygate in Edinburgh from Highcross for £46 million, reflecting a net yield of 7.3%. The property was acquired on behalf of the M&G Property Portfolio, managed by Fiona Rowley and Justin Upton of PRUPIM.

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January 2013

29 Jan 2013 - PRUPIM agrees letting with law firm Manches at reading’s Apex Plaza

PRUPIM, the real estate investment management arm of M&G, has agreed a letting with expanding law firm Manches at its Apex Plaza office building in Reading town centre.

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28 Jan 2013 - M&G sells west end property following redevelopment

The M&G Property Portfolio today announces the sale of the recently redeveloped 1-5 Poland Street, London W1. The building was purchased through a competitive bidding process realising £30.4m and reflecting a net initial yield of 4.84%. The Fund is managed by Fiona Rowley and Justin Upton of PRUPIM, the real estate investment management arm of M&G Investments.

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24 Jan 2013 - PRUPIM notches up two new lettings at popular industrial estate in Birmingham

PRUPIM, the real estate investment management arm of M&G Investments, confirms it has leased in excess of 33,000 sq ft to Middle Eastern retail giant Lulu Hypermarkets and construction firm Willmott Dixon Partnerships in two separate deals at one of Birmingham’s most popular industrial estates, Junction 6, at Electric Avenue, Aston.

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17 Jan 2013 PRUPIM gets go ahead for new hotel and industrial development near Heathrow

Leading real estate fund manager PRUPIM today announces it has been granted planning permission from Hillingdon’s Planning Committee, (subject to a S106 legal agreement), for the redevelopment of the Summit Centre.

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15 Jan 2013 - PRUPIM sells 165-181 Kensington high street for £30.3m to Hong Kong based investor

PRUPIM, the leading real estate fund manager, has today announced the sale of 165 – 181 Kensington High Street & 1A Eden Close in London to Kwai Hung Holdings Limited, a private Hong Kong investor for £30.3m, reflecting a net initial yield of 5.0%.

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15 Jan 2013 -  PRUPIM acquires Hilton hotel, terminal 5

Leading real estate fund manager PRUPIM today announces the freehold acquisition of the new Hilton Hotel at Terminal 5, Heathrow Airport, for £21.13m from Shiva Hotels. The property has been purchased by PRUPIM for a client’s secured long income funds. 

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3 January 2013 -  PRUPIM acquires 1.15m sq ft of warehouses in the golden triangle

PRUPIM today confirms that during December it purchased two warehouses in prime UK distribution estates in the Golden Triangle in two separate transactions.

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December 2012

6 December 2012 - PRUPIM acquires Aberdeen student accommodation for £32.95m

PRUPIM, the real estate fund management arm of M&G Investments, has acquired New Carnegie Court for £32.95m, a block of student accommodation at University of Aberdeen, from UNITE, the UK's leading developer and manager of student accommodation.

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November 2012

20 Nov 2012 - PRUPIM builds capabilities in Asia

PRUPIM, the global real estate investment manager, today announced four strategic hires and the opening of two new offices to strengthen its asset and investment management offering across Asia.

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October 2012

31 Oct 2012 - PRUPIM instructs lshto market upper parts of central buildings, Sheffield

Leading real estate fund manager PRUPIM has instructed Lambert Smith Hampton (LSH) to market the upper parts of Central Buildings, Fargate Sheffield, which is now available for potential redevelopment and subsequent occupation. LSH is working in partnership with Campbell & Co. on the marketing of this accommodation.

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12 Oct 2012 - PRUPIM sells oxford street block for £14.8 million

Leading real estate fund manager PRUPIM has sold the long leasehold interest of 391-393 Oxford Street to a private foreign investor for £14.8 million, reflecting a net initial yield of 3.07%.

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4 October 2012 - PRUPIM secures two lettings at imperium in reading

Leading real estate fund manager PRUPIM has agreed two lettings totalling 18,500 sq ft at its Imperium office building in Reading.

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September 2012

18 Sep 2012 - PRUPIM agrees major office letting in Weybridge, Surrey

Leading real estate fund manager PRUPIM has agreed a major letting at its 35,500 sq ft Benchmark House office building in Weybridge.

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August 2012

21 Aug 2012 - M&G Property Portfolio lets new west end office development

The M&G Property Portfolio, managed by Fiona Rowley of PRUPIM, has agreed to let the redevelopment of 1-5 Poland Street, London W1, in its entirety. Williams Lea, which is relocating from its current premises, will occupy the building along with one of its subsidiaries, Tag Worldwide Group.

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July 2012

09 Jul 2012 - PRUPIM leases 89,000sq ft to Skype in landmark building

PRUPIM confirms internet software company Skype has leased 89,000 sq ft in its landmark property, 2 Waterhouse Square in central London.  This is the second high-profile TMT tenant to occupy offices in the distinctive Gothic Midtown building following communications group Weber Shandwick taking 64,000 sq ft across the first and second floors of the building earlier this year.  CBRE and DTZ advised on both transactions.

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June 2012

06 Jun 2012 - PRUPIM Appoints New Head of Property Research

Real estate fund manager PRUPIM has announced the appointment of Richard Gwilliam as Head of Property Research, with effect from 1 October this year.

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May 2012

29 May 2012 – M&G European property fund grows core exposure

Fund makes €100m plus of acquisitions to meet demand for prime property.

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10 May 2012 - PRUPIM Appoints New Board Director

Real estate fund manager PRUPIM has announced the appointment of Scott Girard to its UK Board.

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April 2012

03 Apr 2012 - UK property market more bi-polar than ever

Institutional investors are still reluctant to put risk on the table when buying commercial property and the division between prime and secondary markets is likely to grow as a result, research from Real Estate Fund Managers PRUPIM reveals.

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02 Apr 2012 - PRUPIM backs sustainable performance measurement initiative

PRUPIM is backing an IPD-initiative aimed to support the measurement of sustainable property investment.

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February 2012

22 Feb 2012 - Investors Baffled by Responsible Property Investment Metrics

Real Estate fund manager PRUPIM has published its latest responsible property investment report - and warned that investors are confused by the myriad of metrics and measures of sustainable property investment.  

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21 Jan 2012 -  PRUPIM and knight property group near completion on first phase of Cityview business park

PRUPIM and Knight Property Group are on track to complete the first phase of development at the five acre Cityview Business Park site on Wellington Road in Aberdeen.

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10 Jan 2012 - PRUPIM announces sale and lease back deal for car park in Weston-Super-Mare

PRUPIM has confirmed the purchase of the 381 space Carlton Street Car Park, phase two of McLaren Life’s* 275,000sq ft regeneration development at Dolphin Square in Weston-Super-Mare, for the sum of £9.5 million.

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