Australian Super and Hermes Real Estate Investment Management have closed a deal that will see Australian Super take a 50% stake in Milton Keynes shopping centre thecentre:mk .
The £270m investment is Australian Super’s first international direct real estate investment from its property portfolio.
Thecentre:mk comprises 1.3m sq ft of retail space and is anchored by John Lewis, House of Fraser and Marks & Spencer.
AustralianSuper was assisted on the transaction by newly appointed mandate manager, Henderson Global Investors.
Australian Super announced plans late last year to begin direct investments into certain asset classes, including property, in a move that will save investors millions of dollars in fees.
sophia.furber@estatesgazette.com
