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TODAY'S OTHER NEWS

M&G transactions totalled £4.2 billion in 2015

Property investor M&G Real Estate bought and sold £4.2 billion of property in 2015, taking the total level of transactions to over £11 billion across the last three years.

The 2015 total included £2.6 billion of new acquisitions, notably Bloomberg Place in London and Bedfont Lakes Office Park near Heathrow Airport.

Across 2015, the UK investment firm also made over £500 million of investment into the Northern Powerhouse cities.

Across the globe, M&G Real Estate have also purchased a €175 million office block in Madrid and a US$230 million deal to acquire three retail assets in North Korea.

Alex Jeffrey, Chief Executive of M&G Real Estate, commented: “Bolstering our investment capabilities and further strengthening our continental European business is a key priority for 2016. We are expanding our continental European footprint and our team, and will announce new office openings and appointments early in the year.”

With a stable UK economy, improved business and consumer confidence and limited supply, strong rental growth is also on the cards for 2016.

Jeffrey concludes: “Our strategic focus remains on long-term income driven investment, enhancing our position as a partner and co-investor of choice for institutional investors seeking exposure to high quality real estate and sizeable assets.”

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