Commercial real estate fund announced in South Wales

A new fund has been launched to support the development of commercial real estate projects in South Wales, according to Insider Media.

The £50 million ($68 million) Cardiff Capital Region (CCR) Strategic Premises Fund was set up to support the delivery of CCR’s Industrial and Economic Plan, which was developed by Cardiff Capital Region (CCR) Economic Growth Partnership (EGP) in 2019 to identify and address the priorities facing the European region. All potential development schemes must provide socio-economic benefits to the local area.

CBRE's Investment Advisory team, part of CBRE Capital Advisors, will manage the fund.

“Following the pandemic, it is more vital than ever that state-of-the-art employment spaces continue to be developed, creating valuable new jobs for the local area and vibrant and dynamic community hubs,” said George Richards, senior director for investment advisory at CBRE. “All returns will be reinvested back into the fund in