Henderson Global Investors has closed its UK retail warehouse fund to new equity after attracting £117.5m of investment.
The new investors are Prudential, British Energy Generation Group, Lattice, Universities Superannuation Scheme and ATP, Denmark’s largest pension fund.
They take the number of investors in the fund to 13, with others including AMP Pearl, AMP NPI, AMP London Life and Scottish Mutual Assurance.
In November, the fund bought the Kingsway Retail Park in Derby from Haslemere for £24.75m, reflecting an equivalent yield of 6.5%.
The park comprises more than 100,000 sq ft (9,290 sq m) and is mainly occupied by bulky goods manufacturers, including B&Q, Comet, Halfords and furniture retailer SCS.
In January, the fund bought a freehold development site in Ryden Lane, Exeter, with planning permission for 100,000 sq ft (9,290 sq m) of bulky goods retail warehousing and associated restaurants.
Henderson was advised by Morgan Williams and Cushman Wakefield Healey & Baker.
Investment manager Andrew Friend said that, since its launch in July 2001, the fund had grown from six properties worth £180m to 15 properties worth more than £550m.
Its final size is expected to be around £750m, he added.
EGi News 29/01/03
