UK properties to be bought by the Government of Singapore Investment Corporation
The Government of Singapore Investment Corporation have a £200million fund which they plan to spend on UK properties. This news is yet more evidence that there is a growing interest for UK properties from overseas investors.
The Government of Singapore Investment Corporation is one of the largest sovereign wealth funds in the world and it owns over £62billion of assets which include a 17.5% stake in the Kent based shopping centre called Bluewater. The Government of Singapore Investment Corporation are planning on spending more of their funds on the UK property market after the triumph of the previous investment when they bought Orchard Street in 2008.
Recently, Asian investors have been snapping up million pound homes in London because they see them as safe investments because the properties have the potential to generate higher than usual market returns.
Our previous blog relating to this story can be found HERE
The Government of Singapore Investment Cooperation plan to purchase 15 properties around the country over the next few years, these include offices, retail and industrial buildings between the values of £15million to £50million.
Mr Bartman, who is the Crown Estate commissioner of Land Securities, spoke to the Telegraph said, ‘This style of investment is an area of particular expertise, and which we believe has the potential to generate higher than normal market returns.’
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